BLNK reported its excellent Q1 results. The two main lines of business reported double-digit growth: charging service revenue increased 14% (to $306K) and network fee revenue climbed 16% ($57K). Its stock price increased by about 31%. Do you think how high it will increase to?
If you own this stock long... get out. Its a pump and dump story stock with zero institutional ownership. This thing is a paper tiger. Its so overvalued its not even funny. Look at the balance sheet. They will sell shares into this strength to fuel cash-burn. And their pockets. No disrespect... but get out bro. $8 EDIT: If Soes were here.... we'd be hearing about this bitch for the next week. I miss Soes.
Honestly, I think it will go back up.... as these things go;... but inevitably, its gonna crash. Its like musical chairs. If you can sit there and watch it, minute by minute.... you can make some bank off of these.... but its not one to buy and then go off to a day job. In the last two days the entire float has turned over 3 times (41M shares traded). Not sure what the borrow rate is, but shorts could certainly get burned if some large players conspire not to sell any. Fun to watch, but not to play. Kinda like watching a $100,000 Baccarat table.