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Tesla Competitor Blink Charging Share Price Rallies 9.4% on a Major Grant Award

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Updated: 23 July 2020

Shares of Tesla competitor Blink charging today rose 9.4% to trade at $7.55 extending yesterday’s 20% gap up after revealing that it had won a grant to install 200 Blink Fast Level 2 charging stations in the mid-Atlantic region.

The company’s shares have risen over 200% since 26 June 2020 after signing similar deals with public entities such as the Portland city and private companies such as Envoy Technologies.

Michael D. Farkas, Blink’s founder and CEO said: “We are pleased to partner with Virginia Clean Cities in this exciting initiative that brings together strong local and regional partners with a shared vision to create an enduring regional ecosystem to promote and support the use of electric vehicles.”

Blink Charging share price

Tradingview chart showing Blink charging share price 23072020

Blink’s latest rally comes as other companies in the electric vehicle industry such as Tesla (TSLA) and Nikola Corp (NKLA) and Nio Inc. (NIO) have also seen their shares surge as investors pour money into the sector.