What Happened to Blink Charging?
Ticker: BLNKSPAC Year: 2018Merger: 2018
Return
-97.7%
Current Price
$1.5
Peak Price
$64.5
Trust Size
$50M
Summary
EV charging company that became a meme stock during the EV SPAC boom. Peaked at $64 with minimal revenue. Crashed 97% as the charging network remained tiny.
What Happened
Blink went public via a reverse merger in 2018 and rode the EV SPAC mania to a $64 stock price by 2021. The company installs EV charging stations but had minimal revenue â under $20M when it hit a $4B market cap. Short sellers targeted the stock, alleging that Blink exaggerated its network size. Revenue eventually grew to $150M but the company remained deeply unprofitable. Stock crashed from $64 to $1.50.
Key People
Timeline
2018-05
Reverse merger, public listing
2021-01
Stock surges to $64 on EV mania
2021-09
Short seller reports
2023-01
Stock below $5
2024-06
Stock at $1.50, reverse split risk