Why Blink Charging And ChargePoint Stock Are Falling

Blink Charging Co BLNK and ChargePoint Holdings Inc CHPT shares are trading lower by 7.26% to $12.40 and 7.08% to $11.68, respectively, Monday afternoon.

Shares of EV and EV charging companies are trading lower ahead of this week's midterm elections. Potential Republican wins in key House and Senate races could change the makeup of Congress and hamper the Biden Administration's clean energy policies.

At the time of publication and per simulations of the election by FiveThirtyEight, simulated 40,000 times to see which party wins the Senate most often, Republicans have a 55% chance of taking control of the U.S. Senate and an 83% chance of taking control of the U.S. House.

According to data from Benzinga Pro:

• BLNK has a 52-week high of $49.00 and a 52-week low of $12.27
• CHPT has a 52-week high of $28.72 and a 52-week low of $8.50