What's Going On With Blink Charging Stock?
Portfolio Pulse from Erica Kollmann
Blink Charging Co. (NASDAQ:BLNK) shares have risen nearly 25% over the past five days, attributed to several factors. Citadel reported a 0.4% stake in the company in early December. Blink was also chosen as a full-service EV infrastructure provider for Mack Trucks, which may be contributing to the stock's performance. Additionally, Blink is experiencing increased retail investor interest due to its high short interest, being one of the top trending tickers on Yahoo Finance. The stock is trading on heavy volume, with over 20 million shares traded compared to its 100-day average volume of less than 4.4 million shares. At the time of publication, BLNK shares were up 13.9% at $4.09.
December 26, 2023 | 5:15 pm
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Blink Charging's stock is experiencing a significant increase due to Citadel's investment, a new partnership with Mack Trucks, and heightened interest from retail investors targeting stocks with high short interest.
The recent rise in BLNK's stock price can be attributed to a combination of factors. The disclosure of Citadel's stake is a positive signal to investors, suggesting confidence from a major hedge fund. The partnership with Mack Trucks indicates potential growth in the company's business operations. Furthermore, the high short interest coupled with the stock trending on Yahoo Finance suggests that retail investors might be speculating on a short squeeze, which can drive the price up in the short term. The heavy trading volume is another indicator of strong investor interest and can contribute to price volatility.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100