BLNK Stock: Blink Shares Climb Higher on EV Charging Advancements

Time for another charging pun? It looks like it, with Blink Charging (NASDAQ:BLNK) shares powering up in the stock market today. Importantly, the move in BLNK stock follows some impressive company news, and a recent trend in charging plays. So what do you need to know right now?

a blink charging station
Source: David Tonelson/Shutterstock.com

To start, investors should be familiar with the news today. Blink Charging, which is a company that specializes in charging infrastructure for electric vehicles, shared a big advancement. This morning, the company introduced an innovative pole mounting kit for the IQ 200 EV charging station. What does this mean?

Well, the Blink IQ 200 charger is the fastest Level 2 AC charging station available, and these charging stations are typically mounted on a wall or other object. Right now, the IQ 200 produces 80 amps of output, and can provide 65 miles of charge in an hour. Importantly, these chargers just got a little bit more accessible for drivers around the country.

Essentially, Blink Charging hopes to bring the IQ 200 chargers to more locations near you. To do that, it needs to eliminate some of the hassle of establishing a charging station. Why not work with existing infrastructure? With the new pole mounting brackets and hardware, the IQ 200 can hang on existing light or utility poles. And, as many communities switch to power-efficient LED street lamps, Blink Charging could get another boost. This is because these LED lights are actually able to operate the IQ 200 charging station with any excess power.

As these pole mounting systems promise to boost the ease of EV charging, it is no wonder BLNK stock is climbing higher today.

Why It Matters for BLNK Stock

Essentially, the biggest challenge for EV bulls right now is consumer adoption. What can companies do to attract new drivers? And what can companies do to improve the consumer experience for existing customers? If Blink Charging can make its charging systems more accessible, it could boost the broader accessibility of electric vehicles. This should also incentivize more customers to install the IQ 200 chargers.

Investors should also note another broad catalyst for BLNK stock. Earlier this week, QuantumScape (NYSE:QS) made waves when it shared its solid-state battery technology. With the ability to produce 80% charge in 15 minutes, QuantumScape similarly thinks it can radically change the world of EVs. As we have seen since then, other charging companies are benefitting.

For now, investors will have to wait and see just how these pole-mounting systems affect the bottom line for Blink Charging. Until then, keep BLNK stock on your watch list. This company is charging up.

On the date of publication, Sarah Smith did not have (either directly or indirectly) any positions in the securities mentioned in this article. 

Sarah Smith is a Web Content Producer with InvestorPlace.com. 


Article printed from InvestorPlace Media, https://investorplace.com/2020/12/blnk-stock-blink-shares-climb-higher-on-ev-charging-advancements/.

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