Blink Charging (BLNK) Stock: Headed For The Top On UL Approval

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Blink Charging Co. BLNK Stock NewsBlink Charging Co (NASDAQ: BLNK) is flying in the market today, and for good reason. The company announced that it has received UL approval surrounding its next generation electric vehicle charging stations. Of course, the news was overwhelmingly positive, leading to excitement among investors who are sending the stock on a tear for the top. Today, we’ll talk about:

  • The UL approval;
  • what we’re seeing from BLNK as a result; and
  • what we’ll be watching for with regard to the stock ahead.

BLNK Announces UL Approval

As mentioned above, Blink Charging is enjoying an incredibly strong day in the market today after announcing UL approval. In a press release issued early this morning, the company announced that Underwriters Laboratories (UL) has approved its next generation of electric vehicle (EV) charging station technology. This approval was the result of an analysis of the technology’s safety and sustainability implications for the marketplace.




In the release, BLNK said that the new charging stations support power outputs of up to 19.2 KW. That works out to almost three times the power output of the current generation. As a result, the next generation EV charging stations will charge vehicles in about two-thirds of the time that it used to take. Also, the company pointed to the fact that the units are compatible with amperage that ranges from 12 amps to 80 amps. This gives the company the ability to work with a variety of locations, even if they have limited power.




The new EV charging stations will support power outputs up to 19.2 kW, which is nearly three times the power output of the current generation, and will decrease charging time for electric vehicles by approximately two-thirds. Additionally, the units are compatible with amperage ranging from 12 amps to 80 amps, so they will work with a wide variety of locations, even those that currently have minimum available power. Also, the units will be able to accept smart credit cards like Google Pay and Apple Pay. In a statement, Michael D. Farkas, Founder and Executive Chairman at BLNK, had the following to offer:

UL’s approval of our next generation AC charging stations is a very important milestone for us… The massively robust functionality of our new chargers is focused on speed, reliability, and safety, which means that instead of spending three hours at a charger, drivers will be able to get on the road in just one hour. If they only need to top off their car, they can get the same amount of energy in 10 minutes, rather than 30 minutes that they would need now.

What We’re Seeing From The Stock

As investors, one of the first lessons that we learn is that the news moves the market. In this particular case, the news proved to be overwhelmingly positive. With UL approval, Blink Charging will now move forward with the deployment of the next generation EV charging stations. So, it’s no surprise that excited investors are pushing the stock toward the top. As is almost always the case, our partners at Trade Ideas were the first to alert us to the gains. At the moment (11:06), BLNK is trading at $7.56 per share after a gain of $0.53 per share (7.54%) thus far today.

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What We’ll Be Watching For Ahead

Moving forward, the CNA Finance team will continue to keep a close eye on BLNK. It seems like every other week, the company is reporting good news from the deployment of charging stations at locations like Whole Foods Market to the approval of next generation systems. We expect that this news will continue to lead to gains ahead. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!

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