Why Blink Charging Stock Short-Circuited Today

Shares of electric-car charging network operator Blink Charging (NASDAQ: BLNK) collapsed today, falling 9.2% by 1:30 p.m. EST, and for reasons having nothing to do with its business. It was the company's CEO who seems to have shot Blink in the foot.

Image source: Getty Images.

Yesterday after close of trading, CEO Michael Farkas filed a Form SC 13D/A with the Securities and Exchange Commission in which he advised that on Jan. 12 -- a date when Blink shares closed at more than $52 -- he sold 540,000 shares of common stock at just $41 each.

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Source Fool.com