What Happened?
Shares of EV charging infrastructure provider Blink Charging (NASDAQ:BLNK) jumped 4.4% in the morning session after the company announced it has joined the Paua platform, a leading UK aggregator of electric vehicle (EV) charging for fleets and businesses.
This strategic collaboration adds Blink's 850 public charging locations and approximately 3,500 connectors to Paua's network, expanding it to over 67,000 connectors across the United Kingdom. The partnership aims to simplify the charging process for EV drivers, especially those managing commercial fleets, by creating a more unified and seamless experience. Through the Paua Access platform, drivers can now find real-time data on Blink charger availability, connector types, and pricing without needing new cards or apps. The move is intended to support the UK's transition to electric transportation by making charging more accessible.
After the initial pop the shares cooled down to $1.18, up 3.1% from previous close.
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What Is The Market Telling Us
Blink Charging’s shares are extremely volatile and have had 74 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 2 days ago when the stock gained 4.9% on the news that the company announced the completion of a major electric vehicle (EV) charging infrastructure project in Porterville, California.
The $1.6 million initiative involved installing 34 charging ports across three city-owned locations. Specifically, Blink added 19 DC Fast Chargers (28 ports) and three Level 2 stations (6 ports), upgrading and replacing all public EV charging ports at key municipal sites like the Porterville Transit Center. The project was primarily funded by the Federal Transit Administration, which covered 80% of the cost, with the remaining 20% coming from Local Transportation Funds. This successful deployment highlights the company's ability to execute significant public-private partnerships and expand its charging network.
Blink Charging is down 21.3% since the beginning of the year, and at $1.18 per share, it is trading 47.6% below its 52-week high of $2.25 from October 2024. Investors who bought $1,000 worth of Blink Charging’s shares 5 years ago would now be looking at an investment worth $184.37.
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