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Stock Alert: Blink Charging Tumbles 16%

Shares of Blink Charging Co. (BLNK), a Florida-based provider of electric vehicle or EV charging equipment, are losing almost 16 percent or $5.35 in Tuesday's morning trade at $28.27.

Tuesday, Blink Charging said it has acquired the EV charging operator U-Go Stations, Inc. and its portfolio of 44 DCFC charging locations. The purchase also includes multiple grants awarded to U-Go for the deployment of up to an additional 45 new charging stations.

The U-Go charging stations will add to Blink's current DCFC portfolio of 88 chargers, predominately found on the West Coast. Financial terms of the deal were not announced by the company.

Blink Charging has traded in a range of $1.25 to $34.67 in the past 52 weeks.

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