BLNK - Why Blink Charging Stock Crushed the Market Today
2024-05-02 18:26:53 ET
A new deal that's sure to ramp up Blink Charging 's (NASDAQ: BLNK) presence alongside roads in the Northeast got investors excited about the stock Thursday. They greeted news of the arrangement by trading Blink's shares up by more than 11% in price that day, a far more robust improvement than the sub-1% gain recorded by the S&P 500 index.
Shortly before market open that day, Blink announced that it has secured a contract to be an official electric vehicle (EV) charging provider for New York state. In addition to its network of charging stations, Blink is also to provide associated services such as maintenance, repair, and parts and supplies.
The company did not provide any financial details of the arrangement, nor did it specify how long it would be in force.
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Why Blink Charging Stock Crushed the Market Today