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Why Blink Charging's Shares Plunged 13.5% Today

TheMotleyFool

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Why Blink Charging's Shares Plunged 13.5% Today

Shares of electric vehicle charging company Blink Charging (NASDAQ: BLNK) fell by as much as 13.5% on Tuesday as traders bid down the entire EV space. Shares were down by 12.4% as of 1:30 p.m. EST.

It's worth taking a step back and looking at where Blink Charging stock has traded over the last few days. Shares jumped sharply on Monday after Congress passed President Biden's $1.2 trillion infrastructure bill, which included $7.5 billion to help build a network of 500,000 electric vehicle chargers across the U.S.