What Happened?
Shares of EV charging infrastructure provider Blink Charging (NASDAQ: BLNK) rose in the morning session after it announced the company was awarded a significant, long-term contract with Sourcewell to provide electric vehicle (EV) charging equipment and services.
This deal gave Blink streamlined access to more than 50,000 public sector organizations, such as government, education, and nonprofit agencies throughout the United States. The competitively awarded contract was set to run until September 18, 2029, with the potential for three additional one-year extensions. The agreement opened up public-sector channels that could accelerate municipal and educational EV charging rollouts, providing Blink a direct path to a large group of new customers.
After the initial pop the shares cooled down to $1.45, up 2.5% from previous close.
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What Is The Market Telling Us
Blink Charging’s shares are extremely volatile and have had 83 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 4 days ago when the stock dropped 8.6% on the news that the broader U.S. stock market declined amid investor caution and a pullback in technology stocks.
The main story? Investors are cashing in on a good run and feeling a bit cautious. After a fantastic run, many of those high-flying AI and technology stocks saw investors take profits: selling shares to lock in their gains. This is often called a "market rotation." Money is moving out of the red-hot tech sector (which some worry has become too expensive) and into other parts of the market that investors may currently deem more stable or reasonably-priced. There's a secondary reason for the cautious mood: The long government shutdown came to an end. Though it's typically interpreted as good news, it also means a flood of delayed economic reports will be released. For weeks, investors were "flying blind" without key updates on the economy's health, like inflation data and the jobs report. In typical "sell the news" fashion, investors may also be taking profits and selling in anticipation that the new data would potentially give the Federal Reserve reasons to slow or even pause future rate cuts.
Blink Charging is down 3.7% since the beginning of the year, and at $1.45 per share, it is trading 42.2% below its 52-week high of $2.50 from October 2025. Investors who bought $1,000 worth of Blink Charging’s shares 5 years ago would now be looking at an investment worth $102.12.
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