Why Blink Stock has flashed 23.5% higher now

What happened

Even if you blinked, you can’t have missed this one: Flashing charge (NASDAQ: BLNK), the start-up in Florida which is working on building its own network of electric car charging stations, is up 23.5% as of 10:30 a.m. EDT after the announcement of a new charging partnership … in Greece.

So what

Blink broke the news this morning: in cooperation with Eunice Energy Group and Nissan Nik. I. Theocharakis SA, Blink forms a three-way joint venture “for the development and promotion of electric mobility in Greece”. As part of the deal, there will be “formal cooperation among Nissan dealers and authorized partners across the country with the deployment of Blink chargers,” including the sale of electric vehicle chargers that Nissan customers can install at them to “preferential tariff packages”. “

Image source: Getty Images.

Now what

Aside from the cheerful words and good-naturedness that usually accompany such announcements – “we are very happy with our partnership” (Blink) and “we are very happy to welcome Blink as a partner in the new era of electric mobility. “(Nissan) – the companies did not provide any specific financial information on the operation of this joint venture. They didn’t give any details on how big the companies are seeing in the charging market in Greece, how much revenue Blink could expect to generate from this partnership or … whether that revenue will be profitable.

Either way, investors take the news alone as an indication of future growth and buy some unprofitable Blink shares with abandon this morning.

This article represents the opinion of the author, who may disagree with the “official” recommendation position of a premium Motley Fool consulting service. We are motley! Challenging an investment thesis – even one of our own – helps us all to think critically about investing and make decisions that help us become smarter, happier, and richer.

Comments are closed.