What happened

Shares of electric-vehicle (EV) charging station network operator Blink Charging (NASDAQ:BLNK) continued a December spike by rising another 15% as of 11 a.m. EST on Wednesday. 

The stock has now more than doubled since the start of the month. 

So what

The run in the stock comes as Blink has announced several agreements to grow its EV charger network. The company announced a new deal yesterday with electric-truck and bus maker Lion Electric

man walking past two Blink chargers in parking garage

Image source: Blink Charging.

The agreement with Lion will have the EV maker "offer Blink's full line of charging stations to the school systems and bus fleets that utilize the company's all-electric school buses."

Now what

The agreement with Lion follows several other recent announcements that show Blink's strategy for growing its charger network. Three agreements since Dec. 15 revealed long-term exclusive agreements or additional product deployments with healthcare systems in Illinois and Pennsylvania. 

It makes sense to focus on expanding its charging network to healthcare system complexes and school bus fleets, considering that more office workers will likely work from home even after the pandemic. Office complexes might be less densely packed going forward. But hospitals, medical offices, and school bus operators likely won't be affected by remote work trends. 

That's good news for investors. But Blink has a long way to go to grow into its current valuation. The stock currently trades at a price-to-sales ratio of almost 300. That either means that massive growth is coming for the company, or that shares will come back down to earth at some point. Timing the moves in a highflier like Blink is impossible, so shareholders need to be in for the long haul, and expect a highly volatile ride. 

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.