Electric Car Charger Selected by Whole Foods; Stock Gains Over 150% in Hours
Daily Stock Market Summary: Markets are posting solid gains today, seeming to feed off the positive momentum from last Friday. News that legendary investor Warren Buffet is heavily long on the current market appears to be providing investors with a confidence boost. Meanwhile, oil prices are nearing highs not seen since 2014, a huge boon for the energy sector. The market finally appears to be hitting a solid bullish pace after weeks of roller-coaster trading. Accordingly, our Top Performers from last week were heavily tilted toward long plays.
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Today’s Top Performer: Blink Charging Company (NASDAQ:BLNK)
BLNK operates a network of electric car charging stations across the United States. These stations are monitored and managed using a nationwide cloud network; users can locate the stations using a free app.
Today, Blink announced that they have installed their charging stations at three locations of the high-end grocer Whole Foods, now owned by Amazon. Additionally, they will be integrating the tech in future stores opened by Whole Foods. The initial trial locations are all located in Pennsylvania.
The news is driving the stock to truly astonishing gains: it’s sitting up over 165% at the time of this writing. And those huge gains actually represent a pullback from a jump well over 200% earlier in the day’s trading.
The dramatic nature of this surge suggests that investors are trying to leverage Whole Foods/Amazon’s legendary logistics expertise, which presumably went into selecting BLNK, to identify stocks with staying power in the red-hot electric vehicle sector. Blink’s stock had slipped from over $3.00 to under $1.50 in recent weeks’ trading. Today’s surge leads the stock, which conducted its IPO this February, to an all-time high.
Keep checking the News Quantified blog as we take a look at a dramatically profitable sample of the 1000’s of winning new-based stock plays available to our users each and every week. Last week was no exception: the news is the perfect tool to cut through the haze of a volatile global economy and find consistent profits.