Blink Charging Co Stock Jumps on City of Miami Deal
Blink Charging Co (NASDAQ:BLNK) stock was on the rise Friday on news of a deal with the City of Miami.
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The deal makes Blink Charging Co the exclusive electric vehicle (EV) charging service provider for the City of Miami. The deal is already bearing fruits as BLNK now has four charging units available at the parking garages near the city’s beaches.
Blink Charging Co notes that this deal will continue to allow it to expand its business in Miami. It is already planning to install EV chargers at the five other parking garages in the city within a month’s time. All of the charging stations are available to users 24 hours a day.
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“We are proud to be the exclusive company providing The City of Miami Beach charging services for these locations, as well as other new locations,” Michael Farkas, Founder and Executive Chairman of Blink Charging Co, said in a statement. “Miami Beach is a very high-traffic destination for EV drivers, and securing a presence in all of the city’s garages will make sure everyone has a place to charge, whether here for business or pleasure.”
This isn’t the only other recent deal for the company that has sent BLNK stock up this week. It also announced that it is now the supplier of charging stations for three of Amazon.com, Inc.’s (NASDAQ:AMZN) Whole Food locations. It will also be providing charging stations to new Whole Foods locations in the future.
BLNK stock was up 21% as of noon Friday and is up 14% year-to-date.
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As of this writing, William White did not hold a position in any of the aforementioned securities.
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