Blink Charging (BLNK) Stock: Why The Price Jumped Today

By Amit Chowdhry ● Nov 8, 2021
  • The stock price of Blink Charging Co. (Nasdaq: BLNK) increased over 12% during intraday trading today. This is why it happened.

The stock price of Blink Charging Co. (Nasdaq: BLNK) – a leading owner, operator, and provider of electric vehicle (EV) charging equipment and services – increased over 12% during intraday trading today. Investors are responding positively to Blink Charging saying it is proud to support the historic bipartisan infrastructure bill and applauds the Biden Administration and congressional lawmakers who are taking an important step to improve our nation’s infrastructure and accelerate the adoption of electric vehicles.

KEY QUOTES:

“We are excited by the inclusion of $7.5 billion for EV infrastructure to build out our nation’s EV network. The passage of the federal infrastructure package brings us one step closer to achieving significant funding for the development and deployment of EV infrastructure, a critical component to unlocking mass EV adoption, curbing transportation-related emission, and creating new jobs with this fast-growing industry. In addition, the bill aligns with the President’s goal that half of the vehicles sold in the United States in 2030 will be zero-emissions vehicles and his aspiration to have 500,000 EV charging stations in place by that same year.”

“This bill furthers the commitment we are already witnessing from local, regional, federal and utility partners who are committed to making EV charging a reality across the country. Thus far in 2021, Blink has been awarded nearly $25 million in existing EV infrastructure grants, rebates, and incentives. Due to Blink’s unique owner and operator modality, we can amplify the impact of these grants, rebates, and incentives to create a robust ecosystem of EV infrastructure. In fact, due in part, to these opportunities, Blink has been able to accelerate efforts to widely deploy public EV charging stations across the country.”

“With this legislation, the momentum we are seeing today is just the start of where the industry will go. This commitment by bipartisan lawmakers is pivotal in propelling the industry forward in a strategic and methodical manner, where public actions complement the efforts of private industry to develop the infrastructure required to realize significant and meaningful change for electric vehicles.” 

— Michael D. Farkas, Founder and Chief Executive Officer of Blink Charging

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.