Shares of Blink Charging Co. BLNK bounced 2.7% in morning trading Thursday, after closing the previous session at a 2 1/2-year low, after the electric vehicle (EV) charging equipment maker said it was award a contract to sell up to 41,500 EV chargers to the U.S. Postal Service (USPS). “The Postal Service’s recent announcement of purchasing more EVs and building the necessary charging infrastructure is another step in developing a complete transition in going electric,” said Blink Chief Executive Michael Farkas. “This move towards electrification sets a precedent that we are hopeful all fleet owners will follow.” Late Wednesday, Farkas praised the Biden Administration’s announcement of its Charging and Fueling Infrastructure (CFI) program, which will provide $2.5 billion for community charging program. The stock, which closed Wednesday at the lowest price since Oct. 28, 2020, has plunged 37.7% over the past three months while the S&P 500 SPX has edged up 0.7%.
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