Why Blink Charging Stock Popped 10% Today

Rich Smith, The Motley Fool
·2 min read
Why Blink Charging Stock Popped 10% Today

Blink Charging (NASDAQ: BLNK) stock charged 10.5% higher as of 11:20 a.m. EDT Thursday after the electric car charging company announced that New York-based Four Brothers Pizza Inn has given it a contract to install 42 charging ports (21 chargers, featuring two ports each) across 10 Four Brothers restaurants in the state. Blink noted that the contract was "made possible through the Charge Ready program from the New York State Energy Research and Development Authority (NYSERDA) and Make Ready incentive offered by New York utilities," similar to support the company has won recently from states such as Vermont and Ohio. In an effort to support the deployment of EV charging stations, NYSERDA gives retailers $4,000 rebates per charging port they install.