Even if you blinked, you cannot have missed this one: Blink Charging (NASDAQ:BLNK), the Florida start-up that's working to build its own network of electric-car charging stations, is up 23.5% as of 10:30 a.m. EDT after announcing a new charging partnership...in Greece.
Blink broke the news this morning: In cooperation with Eunice Energy Group and Nissan Nik. I. Theocharakis S.A., Blink is forming a three-way joint venture "for the development and promotion of e-mobility in Greece." As part of this deal, there will be "formal cooperation at Nissan dealerships and authorized partners throughout the country with the deployment of Blink chargers," including the sale of electric vehicle chargers that Nissan customers can install at their home at "preferential pricing packages."
Aside from the happy talk and bonhomie that usually accompanies such announcements -- "we are very happy for our partnership" (Blink), and "we are very pleased to welcome Blink as our partner in the new era of e-mobility" (Nissan) -- the companies provided no specific financial information on how this joint venture will work. They gave no details on how big the companies see the charging market in Greece becoming, on how much revenue Blink might expect to generate from this partnership or...whether this revenue will be profitable.
Regardless, investors are taking the news alone as an indication of growth to come and buying unprofitable Blink shares with abandon this morning.