What's Going On With Blink Charging Stock Today?

Blink Charging Co. BLNK shares are trading higher on Tuesday.

The company secured an agreement to provide up to 50 electric vehicle charging ports throughout Alameda, California.

Under the agreement, Blink will identify strategic locations for the charging stations, with installations expected to begin this year.

The first phase will see the deployment of 13 Level 2 and DC Fast Charging ports across four locations.

Phase 2 will add 34 additional ports, contingent on available funding and the priorities of both Blink and the city.

In addition to the installation of the charging ports, Blink will offer a variety of services, including site assessment, installation, maintenance, repair, parts, warranties, and product training.

“As the need for chargers in Alameda continues to grow, we look forward to working with the city to develop additional site,” Blink CEO Mike Battaglia said.

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According to Benzinga Pro, Blink stock has lost over 63% in the past year.

Recently, the company announced that it has filed a registration statement with the U.S. Securities and Exchange Commission for a public offering of shares in its subsidiary, Envoy Technologies, Inc., an electric vehicle car-sharing services and community-based EVs.

Envoy intends to list its common stock on The Nasdaq Capital Market under the ticker symbol "EVOY."

While the number of shares and the price range for the offering have not yet been determined, Blink noted that the IPO is subject to market conditions and SEC review.

Price Action: BLNK shares are trading higher by 3.21% to $1.124 at last check Tuesday.

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Image: Courtesy of Blink Charging