In the not-so-distant future, a majority of drivers probably won’t even own the cars they drive in, instead they may join the rising phenomenon of car subscription services
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.
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.