A Joint Venture Could Provide A 33% Gain In This Cheap Stock
Blink Charging Co. (Nasdaq: BLNK) recently announced a plan to establish a Joint Venture with InterEnergy Systems to deploy EV Charging Stations within the Caribbean and Latin America.
BLNK is a leading owner, operator and provider of electric vehicle (EV) charging station products and networked EV charging services.
The company has entered into a memorandum of understanding with InterEnergy Systems, the technology focused wholly owned subsidiary of InterEnergy Group (“InterEnergy”), a leading owner and operator of power generation and distribution assets in Latin America and the Caribbean.
Blink and InterEnergy plan to form a joint venture entity (“JV”) to develop EV charging infrastructure throughout the Dominican Republic and Panama, with the objective of expanding the business to other Latin American and Caribbean markets in the near future.
Blink will provide the JV with its EV charging stations, the Blink Network and expertise, while InterEnergy will provide operational support, local resources and power sector expertise in the markets where the JV will operate.
The exact terms and conditions of the JV are to be outlined in a detailed agreement to be executed between the two parties.
Blink’s Founder and Executive Chairman Michael D. Farkas, said: “This joint venture to bring EV charging infrastructure to the Caribbean and Latin America will make it possible for these countries to begin importing EVs and join the movement from fossil-fuel driven economies to sustainable green ones.”
Farkas continued, “the Caribbean and Latin America are facing a classic chicken and egg scenario — the lack of EV charging infrastructure is stopping the importation and sale of EVs and vice versa.
Our JV intends to solve the puzzle. Our JV will invest in developing, deploying, managing, and maintaining the charging infrastructure and will begin to expand the availability of charging ports in the Caribbean and Latin America so that the citizens and guests of those countries can enjoy the benefits of driving EVs.”
InterEnergy Chairman and CEO, Rolando Gonzalez Bunster, also stated: “that the fundamental objective of promoting EVs is to empower customers to control their energy consumption in a practical and convenient way so that, together with our customers, we can contribute to a more sustainable planet.
We are very excited to enter the electric mobility market. We see the roll-out of a network of EV charging stations as a key part of our mission to continue to bring reliable and cost-effective energy alternatives to our region.”
The past year has been exciting for the company. Over the last 52 weeks, the stock has traded cleanly in the range between $1.28 – 8.65. Investors may want to take a closer look at the potential opportunities in this stock.
BLNK should be considered a buy if there is follow through on the recent momentum buy signal.
Look for an entry at $3.70 with a price target of at least $4.95 based on the pattern in the chart.