Electric vehicle charger manufacturer Blink Charging Co. has posted a 3,000% stock gain over the past eight months, making it one of the most in-demand stocks in the United States. Surprisingly, this climb comes after 11 successive years during which the company was unable to turn a profit. In fact, 2020 initially saw the company edge towards bankruptcy, with its market share going on the decline.
With numerous investors questioning the reasons behind Blink’s recent business boom, analysts have given credit to the company’s green-energy initiatives that fueled its charging station production activities. This has helped to boost the company’s public image as well as enable it to secure contracts with partners who hold green initiatives as a priority.
While the likes of Citron Research bet against the EV startup last year, Blink CEO and Chairman Michael Farkas reiterated the confidence that he has in his brand: “There have been and always will be naysayers. When I founded the business, the naysayers questioned whether the shift to EV was real. Now, as the value of our business grows, the naysayers tend to be the short-sellers.”
Currently, Blink Charging Co. has 6,944 charging stations in its network, with 3,700 of them situated in the United States.
