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Why Blink Charging Shares Tanked 25% This Week

Howard Smith, The Motley Fool
·2-min read
Why Blink Charging Shares Tanked 25% This Week

Blink Charging (NASDAQ: BLNK) stock has been hammered this week after investors got an unwelcome surprise from the electric vehicle (EV) charging network start-up. Blink stock had reached about $15 per share on the early 2023 bounce, but management announced this week that it would be offering new shares of common stock at a price of just $12 per share. The company said the nearly $100 million it is raising from the stock offering will be used "to fund EV charging station deployments, to finance the costs of acquiring or investing in competitive and complementary businesses, products and technologies as a part of its growth strategy."

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