Why Blink Charging Stock Is Bouncing Back After Hitting 52-Week Lows in May
Blink Charging (NASDAQ: BLNK) was among the several clean energy stocks that announced its first-quarter earnings in May. The dramatic jump in Blink Charging's first-quarter revenue susprised many, but the electric vehicle (EV) charging stock still ended the month down 16.6%, according to data provided by S&P Global Market Intelligence.
Why should a growth stock growing its revenue at such a stunning pace fall? Blame weak investor sentiment.
Blink Charging designs, manufactures, and operates EV charging stations. You'd expect the company to be busy installing and selling more and more chargers given how rapidly EV sales are rising. And that's exactly what Blink Charging is doing.
Source Fool.com
