Product Developments - Blink Charging is integrating North American charge standard (NACS) connections to all its charging devices, enhancing user-friendliness and compatibility with more EV vehicles [1] - Blink Charging's product sales rose 68% to $27.5 million in 2023, driven by an increase in customer numbers purchasing commercial chargers [7] - EVgo recorded record revenue of $55.2 million for Q1 2024, up 118% from the previous year, with network throughput increasing by 194% to a record 53 GWh [9] Market Trends - By the end of 2024, electric vehicle sales are expected to reach over 17 million units, accounting for more than 20% of all new automobiles sold globally, with a nearly 25% increase in EV sales compared to Q1 2023 [5] - The industry value is estimated at $623.3 billion, projected to grow to $906.7 billion by 2028, indicating a strong market for overlooked EV stocks [12] - By 2024, EV sales are expected to account for more than 11% of new vehicle sales in the U.S., with China being the largest market, accounting for around 60% of global EV sales [20] Strategic Partnerships - Keystone Purchasing Network has appointed Blink Charging as its exclusive EV charging supplier [8] - Blink Charging has been selected by BYD's official dealership in Mexico, Grupo Fame, to provide EV charging solutions [14] - EVgo is expanding its partnership with Toyota, offering a year of free fast charging for drivers who buy or lease a new 2024 bZ4X [10] Future Outlook - Overlooked EV stocks are seen as a strong investment opportunity in 2024, with potential upsides of 50% to over 100% due to anticipated domestic policy actions and a decrease in benchmark interest rates [3][12] - EVgo's stock has a phenomenal upside potential of 106%, making it one of the top overlooked EV stocks [23] - Panasonic is investing $4 billion in a new EV battery facility in De Soto, Kansas, which will create 4,000 jobs and supply high-capacity lithium-ion batteries to Tesla [25]

FedRAMP is a U.S. government program that promotes the adoption of safe, secure cloud services across the federal government by providing a standardized approach to security and risk assessment for modern cloud technologies. The "In Process" designation is granted to cloud-based companies actively working toward FedRAMP Authorization. This milestone demonstrates Blink's commitment to expanding charging infrastructure and supporting a more sustainable future by electrifying the federal fleet and implementing ...

Once fully accredited, Blink's EV charging network will be available to government agencies. "At Blink, we understand the importance of providing reliable and advanced cloud-based EV charging stations across government agencies and we are excited to reach this significant milestone in the FedRAMP process," stated Brendan Jones, President and CEO at Blink Charging. "We look forward to becoming FedRAMP authorized and continuing to collaborate with federal government agencies as a leader in the U.S. fleet elec ...

Interested investors may access the virtual presentation here. Bowie, Md., June 12, 2024 (GLOBE NEWSWIRE) -- Blink Charging Co. (NASDAQ:BLNK) ("Blink" or the "Company"), a leading global manufacturer, owner, operator, and provider of electric vehicle (EV) charging equipment and services, today announced that Brendan Jones, President and Chief Executive Officer, will present at the J.P. Morgan 2024 Energy, Power & Renewables Conference on June 17 at 1:10 p.m. ET. Mr. Jones will also be available for one-on-o ...

Core Viewpoint - The electric vehicle (EV) market is experiencing significant growth, necessitating an expansion of charging infrastructure, which presents substantial investment opportunities in EV charging stocks [2][11]. Industry Overview - The U.S. electric vehicle market is on a growth trajectory despite challenges, particularly the need for more charging stations [2]. - The Biden administration's efforts to install EV charging stations have been criticized for slow progress, with only seven functioning chargers reported [11]. Company Insights - **EVgo (EVGO)**: - Positioned to benefit from the electrification of the auto industry, with a recent trading price around $2.11, indicating potential upside [3][12]. - First-quarter results showed a revenue of $55.2 million, up 118.2% year-over-year, and an EPS loss of nine cents, beating estimates [13]. - **Blink Charging (BLNK)**: - Currently trading around $3.24, with a recent high of $3.52, indicating strong support and potential for growth [15]. - Reported first-quarter revenue of $37.57 million, up 73.1% year-over-year, and an EPS loss of 13 cents, beating expectations [16]. - **ChargePoint (CHPT)**: - First-quarter revenue was $107.04 million, down 17.7% year-over-year, but beat expectations [8]. - Analysts have a "buy" rating with a price target of $3, citing optimism about future gross margin improvements [9]. - Expected revenue for the second fiscal quarter is projected between $108 million and $118 million, below expectations of $122.74 million [18].

The recent results of a poll on American consumers' interest in buying electric vehicles was portrayed as bad news for the sector by many U.S. media outlets. However, I think that the data is actually quite positive for the sector. Specifically, 24% of consumers surveyed by J.D. Power said they will "very likely" consider buying EVs, and 58% reported that they were "overall likely" to consider such a purchase. So with EV prices having dropped a great deal, and multiple automakers announcing plans to launch ...

When I look at penny stocks, there is scope for clear categorization. On one hand, there are penny stocks that are purely speculative in nature. These stocks can be considered for exposure for a few quarters and can skyrocket at the blink of an eye. On the other hand, there are penny stocks with potential to rank among high-quality growth stocks of tomorrow. These penny stocks represent emerging businesses that have a sound management, good fundamentals, and a big addressable market for growth. While the me ...

Core Viewpoint - The electric vehicle (EV) industry is experiencing slower adoption than anticipated, leading to dampened investor sentiment, but long-term investors may find it an opportune time to buy EV stocks [1] Group 1: EV Charging Stocks - Blink Charging (BLNK) has shown resilience with a 73% year-over-year revenue growth to $37.6 million in Q1 2024, and it is expanding its presence in Europe while maintaining a strong North American market [5][6] - Wallbox (WBX) reported a 23% year-over-year revenue growth to 43.1 million euros in Q1 2024, and with the acquisition of ABL, it is expected to accelerate revenue growth [11][12] - Evgo (EVGO) achieved a remarkable 118% year-over-year revenue growth to $55.2 million in Q1 2024, despite facing cash burn issues, and aims for adjusted EBITDA break-even by 2025 [15][16]

Core Viewpoint - The resurgence of meme stocks is anticipated due to potential rate cuts and a favorable environment for speculative investments, making it a strategic time to consider undervalued meme stocks for significant returns in the near future [2]. Group 1: Riot Platforms (RIOT) - Riot Platforms is highlighted as a top pick among meme stocks, with a forward P/E ratio of 22 and a cash buffer (including Bitcoin holdings) of $1.3 billion as of Q1 2024, indicating strong fundamentals [4][5]. - The company reported a hash rate capacity of 12.4 EH/s in Q1 2024, with a target of 31.5 EH/s by year-end, which is expected to drive substantial revenue and EBITDA growth [6]. Group 2: Cronos Group (CRON) - Cronos Group is positioned favorably at a current stock price of $2.79, with potential for significant appreciation if cannabis is legalized federally, possibly trading in double digits [8]. - The company ended Q1 2024 with a cash buffer of $855 million, providing flexibility for growth through organic and acquisition strategies [8]. - Recent expansions into Germany, Australia, and the United Kingdom are expected to enhance revenue growth, alongside improvements in EBITDA driven by cost-cutting measures [9]. Group 3: Blink Charging (BLNK) - Blink Charging has experienced a 55% correction in stock price over the past year, but is considered oversold and likely to rally significantly [12]. - The company reported a 73% year-on-year revenue growth to $37.6 million in Q1 2024, with a projected gross margin of 33% for the full year and positive adjusted EBITDA by December 2024 [13]. - The expansion of EV charging stations is expected to increase service revenue, supporting EBITDA margin expansion beyond 2024 [14].

Globally, the electric vehicle industry has faced multiple headwinds. These have come in the form of macroeconomic headwinds, higher interest rates, and intense industry competition. The result has been a sharp correction in EV stocks in the last few quarters. While there is some fear in the streets, I would look at EV stocks to buy for long-term. Throughout economic history, there has been booms and busts. When the industry has multi-decade tailwinds, there are dozens of new entrants. This results in a boo ...