What Happened?
Shares of EV charging infrastructure provider Blink Charging (NASDAQ: BLNK) jumped 8.5% in the afternoon session after the company announced it has been awarded a contract by the City of Richmond to develop a network of electric vehicle (EV) charging stations.
This collaboration is a significant step in Richmond's plan to expand its EV infrastructure for residents, visitors, and fleet operators. According to the announcement, Blink is one of five vendors selected to provide public charging solutions for the city. The contract covers a range of services, including site assessment, installation, maintenance, repair services, and product training. This new agreement aims to support the city's climate goals by ensuring long-term sustainability and innovation in its transportation network.
The shares closed the day at $1.82, up 10.1% from previous close.
Is now the time to buy Blink Charging? Access our full analysis report here, it’s free.
What Is The Market Telling Us
Blink Charging’s shares are extremely volatile and have had 77 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 1 day ago when the stock dropped 6.6% on the news that a weaker-than-expected U.S. consumer confidence report for September sparked concerns about the economic outlook. The Conference Board's Consumer Confidence Index dropped to 94.2, its lowest reading since April. This decline was driven by a more pessimistic view of both current and future conditions. The Present Situation Index, which assesses current business and labor market conditions, fell by 7.0 points. More critically, the Expectations Index, a gauge of the short-term outlook, also decreased. This index has remained below 80 since February 2025, a level that historically signals a potential recession on the horizon. The weakening confidence reflects consumers' growing concerns about the labor market, which could translate to reduced spending and broader economic slowing.
Blink Charging is up 20.7% since the beginning of the year, but at $1.81 per share, it is still trading 19.6% 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 $169.63.
Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we’ve identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link.
