Blink Charging focuses on strategic cooperation for network expansion

Blink Charging recently made headlines in the stock market as the share price of the provider of electric vehicle charging infrastructure soared by 4.4% following a new strategic collaboration with Hubject. The aim of the partnership is to expand Blink's charging network across the North American continent. This cooperation integrates Blink's charging stations into Hubject's comprehensive 'intercharge eRoaming' platform, making them accessible to a larger number of electric vehicle users in the USA, Canada, and Mexico. As a result, drivers of the respective vehicles can benefit from increased flexibility and convenience, similar to roaming in the mobile phone sector. A crucial component of this move is the use of standardized industry protocols for billing and communication, which is intended to advance connectivity. Within the industry, the partnership has attracted attention because it contributes to a more seamless and reliable infrastructure development for the ever-growing number of electric vehicles. Despite the initial stock rise, the price per share recently stood at $1.58, which corresponds to an increase of 2.3% compared to the previous day's closing price. However, whether the right time has come to buy Blink Charging shares remains a subject of debate among observers. The speed and volatility of trading show that the market indeed sees the news as significant, but not as fundamentally business-changing. A few days ago, the shares already saw an increase of 9.9%, triggered by an optimistic sentiment in the EV charging sector due to several positive industry developments. Competitors such as Pioneer Power Solutions, Be.EV, and Autel Energy also contributed to increasing investor sentiment with news of projects and contract wins. Although Blink Charging has shown a growth of 5.3% since the beginning of the year, the current price of $1.58 per share is still 29.8% below the 52-week high. An investment of $1,000 in Blink Charging five years ago would be worth only $175.36 today.