Blink Charging Co (BLNK) stock is down in after-market. Here’s the reason

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On 10 March 2022, Blink Charging Co (BLNK) released the fiscal performance for Q4 and FY21, which concluded on 31 December 2021. Therefore, the stock of BLNK plummeted in the after-hours and stayed bearish. The company also declared the contract with Bridgestone regarding the EV charging points.

The stock of Blink Charging Co (BLNK) was trading at $25.13 before the closing of the regular trading session. BLNK stock dropped 1.26% compared to the previous day’s trading session. On the last check, the stock price further dropped in the after-hours session to remain bearish. The stock price during the after-hours lost 5.09% to $23.85 per stock.

Blink Charging Co takes part in the activity and arrangement of the electric vehicles, charging gear, and organized EV charging administrations. BLNK has a market cap of $1.06 billion and 42.20 million shares pending. The company has its headquarter in Miami, Florida, United States of America (USA).

News

On 26 January 2022, Blink Charging (BLNK) declared the contract with Bridgestone to convey 50 Blink IQ 200 charging points at 25 AutoCare, tire, and auto service stations. Initial areas will be in focal business sectors with a critical or developing electric vehicle impression. The CEO of BLNK stated that interest in EVs is anticipated to keep on rising dramatically. More EVs on the roads bring a requirement for EV vehicle administrations and expanded demand for helpful charging stations for EVs to fuel up.

Also, on 18 January 2022, BLNK stated the rolling out of EV chargers to General Motors showrooms in the United States and Canada. Blink has effectively begun transporting chargers to chosen GM showrooms and at present has orders to supply GM vendors in the U.S. also, Canada with extra charging stations.

The chargers are the quickest Level 2 AC charging points accessible. It creates 80 Amps of result, conveying 19.2kW to EVs, and decreasing charge times for new EVs.

BLNK Financials

On 10 March 2022, BLNK published the fiscal performance for Q4 and FY2021. The key points of fiscal performance are

  • The total sales of $7.9 million in Q4 of FY21. Also, BLNK had total sales of $20.9 million in FY2021.
  • Furthermore, the company’s profit grew by 222.1% in Q4 of FY21 to $1.3 million. Besides, the profit in FY2021 expanded by $87.3% to $2.8 million.
  • Moreover, the total loss of the company in Q4 of FY21 was $18.9 million. Not only but also, the total loss in FY2021 was $55.1 million.
  • Besides, the loss of $0.45 and $1.32 in Q4 and FY2021, respectively.

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