Electric Car Charging Stock Surging for the Second Time in Two Weeks
Daily Stock Market Summary: Stocks are posting another show of confidence today after a pullback during yesterday’s session, pushing forward despite newfound uncertainty on the Korean peninsula. Nike (NYSE:NKE) and Macy’s (NYSE:M) are leading the pack, with strong earnings from Macy’s, in particular, salving investor fears over retail sales after poor results from Home Depot yesterday. Analysts continue to warn about choppy waters in the days ahead as US 10-year Treasuries continue to drift over 3%.
The cross-winds of strong earnings and rising rates creates a more capital-competitive environment. Firms unable to create earnings growth will suffer as investors face increasing pressure to pick winners. That’s part of why this environment is particularly profitable for news-based traders (and challenging for passive “buy the market” strategies). You can learn more about the key strategic advantages of news-based trading (and see how simple it can be using our platform) in one of our totally free virtual training seminars. You can sign up using the button below:
Today’s Top Performer: Blink Charging Company (NASDAQ
We featured Blink just last
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.
BLNK moved from a $3.1 million loss in the same quarter last year to a $2.2 million profit this year. They have also substantially improved their balance sheet over the past year, with Total Assets up 335%. Executives appear confident in continued growth as the company continues to transition from its initial development efforts to full-scale distribution.
Investors are pouring into the stock since the announcement, driving it to gains over 45% at the time of this writing. NQ users who picked up the stock on last week’s News Alert planning on holding it through today’s earnings announcement are now up an astonishing 400%.
Today’s price point easily marks an all-time high for the stock, which was first sold to
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