Why Blink Charging Stock Charged 10% Higher on Monday
Shares of electric-vehicle charging network Blink Energy (NASDAQ: BLNK) rushed out of the gate Monday, recovering all the losses incurred in last week's 5% decline and pushing the stock up 10.3% through 2:10 p.m. EDT trading.
There's no obvious news behind today's stock's rally -- no news specific to Blink, no analyst upgrades, price-target hikes, or positive press releases from the company itself. What there is, is a potentially positive report on the future for electric cars in general, which appeared over the weekend on the virtual pages of OilPrice.com.
In a report issued Saturday, OilPrice reviewed a new report from mining research and consultancy firm Wood Mackenzie in which the analyst described trends in electric-vehicle production and demand, and how these might affect demand for lithium for use in electric-car batteries over the next five to ten years.
Source Fool.com
