Advertisement
Canada markets closed

  • S&P/TSX

    21,807.37
    +98.93 (+0.46%)
     

  • S&P 500

    4,967.23
    -43.89 (-0.88%)
     

  • DOW

    37,986.40
    +211.02 (+0.56%)
     

  • CAD/USD

    0.7275
    +0.0012 (+0.16%)
     

  • CRUDE OIL

    83.24
    +0.51 (+0.62%)
     

  • Bitcoin CAD

    86,948.60
    -448.09 (-0.51%)
     

  • CMC Crypto 200

    1,379.35
    +66.72 (+5.08%)
     

  • GOLD FUTURES

    2,406.70
    +8.70 (+0.36%)
     

  • RUSSELL 2000

    1,947.66
    +4.70 (+0.24%)
     

  • 10-Yr Bond

    4.6150
    -0.0320 (-0.69%)
     

  • NASDAQ

    15,282.01
    -319.49 (-2.05%)
     

  • VOLATILITY

    18.71
    +0.71 (+3.94%)
     

  • FTSE

    7,895.85
    +18.80 (+0.24%)
     

  • NIKKEI 225

    37,068.35
    -1,011.35 (-2.66%)
     

  • CAD/EUR

    0.6824
    +0.0003 (+0.04%)
     

Why Blink Charging (BLNK) Jumped 13% Today

Madeleine Johnson
·2 min read

Shares of Blink Charging Co. BLNK closed up almost 13% in Thursday trading in what looks like some short squeeze action. BLNK is one of the most heavily shorted stocks, with over 40% of float shorted. Other news potentially driving shares is the expansion of its charging network in New York, as well as lingering optimism about Biden’s plan to build a national EV charging system.

But investors will need to watch out for any significant corrections. Right now, BLNK’s valuation seems overstretched with a price/sales ratio of roughly 289X. BLNK is up an astounding 2,550% in the past one-year period, too. And, the company reported mixed Q4 results last month that showed soaring sales but deepening losses. Potential buyers should prepare for some wild ups and downs.

Time to Invest in Legal Marijuana

If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027.

ADVERTISEMENT

After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%

You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.

Today, Download Marijuana Moneymakers FREE >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Blink Charging Co. (BLNK) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research