If you’re ready to gain exposure to the clean energy vehicle infrastructure industry, here’s a prime opportunity. Electric vehicle (EV) charging port provider Blink Charging (NASDAQ:BLNK) is establishing footholds in the U.S. and abroad. Now is the time to consider BLNK stock, because it’s likely to be much more expensive in the coming years.
2022 was a tough year for growth stocks, including a number of EV stocks. However, Blink Charging could potentially be the “comeback kid” of 2023 and even the rest of the decade.
There’s a disconnect between the Blink Charging share price and the company’s expansion into multiple regions of the world. So, if you can handle some volatility, there’s a prime opportunity to bet on Blink Charging for long-term gains.
What’s Happening With BLNK Stock?
BLNK stock has declined from nearly $30 a year ago to less than $10 recently. Does this mean Blink Charging is a deteriorating company? Not at all. If anything, Blink is in expansion mode.
Notably, Blink Charging struck a deal with the United States Postal Service (USPS). The contract specifies that Blink will “sell up to 41,500 EV charging units.”
It’s encouraging that a government entity would trust Blink with its EV charging needs. Another example of this is an agreement between Blink Charging and the U.S. General Services Administration (GSA). In particular, the GSA’s contract will “allow government customers and federal agencies to easily purchase” Blink’s products/services “through the GSA Schedule for their EV charging needs.”
Blink Charging Makes Headway in the U.K. and India
Blink Charging’s market presence isn’t limited to the U.S. In fact, the company is demonstrating impressive progress in multiple global markets.
For example, Blink Charging has re-branded EB Charging to Blink Charging UK; the company had acquired this business division in April 2022. This re-branding will provide Blink with a market footprint comprising over 1,225 chargers in the U.K. and Ireland.
Additionally, in a similar move in India, Blink Charging has integrated and re-branded SemaConnect India to Blink; the company acquired the former SemaConnect India in June of last year. Since this business unit’s launch in 2021, over 100 EV chargers “have been deployed at signature locations” in India “such as Bengaluru, Mumbai, Hyderabad, Chennai and Gurgaon.”
Now Is a Great Time to Buy BLNK Stock
As we’ve discovered, Blink Charging is making moves domestically and abroad. The company has contracts with the U.S. government but is also making headway in the U.K. and India. Yet, its seems like many investors don’t appreciate Blink’s global ambitions and the company’s rapid multi-national growth.
That’s fine, as there’s now a prime opportunity to invest in Blink Charging. So, be sure to maintain a small position size but also be confident that BLNK stock has tremendous long-term prospects.
On the date of publication, David Moadel did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.