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SG Blocks (SGBX) Stock Skyrockets After Blink Charging (BLNK) Deal

Practice Stock Trading
Updated: 16 October 2020

SG Blocks (NASDAQ: SGBX) and Blink Charging (NASDAQ: BLNK) have announced an exclusive master development and production agreement…

The deal will see Blink’s charging solutions deployed with SG Blocks’ container-based building structures to provide off-grid charging solutions via solar and battery components.

“By deploying our leading EV charging technology in SG Blocks’ modular structures, Blink expects to be able to greatly increase our geographic footprint supporting the growing number of electric vehicles and the need for increased charging locations,” said Michael D. Farkas, Founder and CEO of Blink.

In the companies press release, they said that they plan to co-develop 20 feet and 40 feet solar-powered containers with Blink’s IQ 200 and DCFC charging stations.

“We are excited to partner with Blink to provide a rapid, clean, and durable solution that facilitates Blink’s growth in the EV charging market,” said Paul M. Galvin, Chairman and CEO of SG Blocks.

SGBX

SG Blocks stock price has jumped on the news, currently trading at $4.11 after rallying 103% premarket on Friday. Blink Charging shares have also moved higher, up 5.35% to $9.85 after closing the previous day’s session at $9.35. 

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