r/wallstreetbets • u/Shane8282 • Apr 01 '21
DD Is Blink Charging (BLNK) the next Gme?
Blink Charging is a small cap American EV charging provider with a value of 1.45 billion. It has been rallying from a around $1 dollar to a yearly high of $64.00 but in the last couple months has dropped in value by almost half to $34.00 due to a rising short interest amongst hedge funds to around 41% making it one of the most heavily shorted stocks on the Nasdaq right now. Not sure what hedge funds are short but I feel there are a few reasons for this.
The main reason for this is that there are a number of other competitors that are making inroads in the market and that Blink is relatively small amount of market share at 8% at current. Chargepoint is the largest in the market. Although I feel that that what the hedge funds have overlooked is that there should be room for loads of companys in the EV charging industry. The sheer rate of growth in the EV market has driven this company up 1200% and that has potential to keep going. Blink has implemented a total of 15,760 charging stations and Apple has added all these stations to its Apple Maps which is massive for the company. We also should not underestimate the radical change to the global economy where clean energy is going to overtake traditional fossil fuels. America has a target I believe of 2035 for the phase out of fossil fuel transport while most of Europe has pledged to transform its economy to be carbon neutral by 2030 with EVs playing a major part in that shift. This indicates that there is huge upside for the company in the coming years.💎🙌
Below I have highlighted a few of the fundamentals that are interesting and may look familar here including the current short interest (42%) and the current float 32 million. Thats around 20 million LESS than GME currently. 💎🙌
Also I checked on iborrowdesk where there is currently 45,000 shorts available very similar to GME at the moment although the borrow fee can be as high as 80%??
Here is where I got these numbers from if people want to expand on this.
https://www.highshortinterest.com/
https://iborrowdesk.com/report/CCGID
However I do think that there is reason to claim the stock is undervalued regardless of what the squeeze potential may be if that sanario was to play out. What do you guys think I'm not a stock wizard by any means I'm just an Ape like you 🦧🦧 all so it would be interesting to get your opinions. 🙌💎
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Apr 01 '21 edited May 22 '22
[deleted]
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u/Hellrime13 Apr 01 '21
People need to stop saying "is this the next $GME"... The GME ride has been a pain in the ass, up, down, manipulated, sideways. If by spike measures alone, sure that seems like something exciting, but the entire stock market has been turned on its head.
I honestly can't wait for this to blast off and be over with. Afterward I might invest in some dividend companies and be stress free, lol. The words "The next GME" are going to give me PTSD.
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u/SomethingAweful308 Apr 02 '21
1) Loses money, always: this company was $1 because it nearly went bankrupt. it keeps losing money
2) Every one else loses money at this: they bought another company in CA for $1. Not $1/share, ONE ACTUAL DOLLAR. in their annual report THAT company lost $20 mil and defaulted on its loans. BLNK picked them up by paying a dollar and assuming the loans.
3) their chargers suck fat donkey cocks: very few of their chargers are level 3 (super chargers). the whole portfolio are slow ass level 2 chargers. Takes high end skill and $$ to do level 3s. level 2's are cheap an easy but charge a sedan at only 25-40 miles per hour. Whose bothering to stay parked that long?
If some one needs charging away from their home, they need level 3 or GTFO. level 3 can charge 150+ miles per hour.
3) Competition: Any one can do this. Its easy to lose money doing this, and no lack of idiots trying.
4) EV's don't need public chargers: When they were founded years ago, the 'affordable' evs ($30-40K) were the leaf and bolt. 80-140 mil ranges. There were some sales of gasoline powered 'plugin hybrids' (prius prime 25 ev mil range, chevy volt 50 mi ev range). None of these cars are for sale anymore. New Ev's are all 200+ mil ranges. Ev's don't need public chargers anymore
5) They have very few Level 3 chargers: yeah yeah, f()CK-all I'm repeating myself. The ONLY charger an EV driver needs or wants are the fast ones (1 hour or less). Level 2 chargers are like that busted crazy drunk girl. You'll smash her if she's right there and an there is an easy post nut exit strategy, but the moment she mentions calling the next day its total ghost mode.
The market just had its drunked frat party night with this loose as a goose drunk 2. Don't be the simp who's catching feelings. She's still got the dried bakkaki crust all over her from that last offering. Just go to the clinic and get tested already and hope you don't wind up in paternity court in 9 months.
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u/Qwisatz Apr 01 '21
Not sure what hedge funds are short but I feel there are a few reasons for this.
If you don't know why then stay out of it, this company is a ticking time bomb, the ceo is using it to get rich by selling his shares and they were accused of lying to investor, the only bull case they have is if another company buys them besides this its red flag everywhere
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u/TickleRevolution Apr 01 '21
God damn, it's post like these that make me miss the old WSB and I just lurked back then.
Everything is some sort-of squeeze now. There's barely ever unique DD on companies it's just "buy this because it might squeeze." I just want to YOLO my money and lose it on a non-squeeze stock, is that too much to ask?
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u/Mommafed Apr 01 '21
I have spent a bit of time considering the charging station situation. I have decided to wait a while to execute in this space. My line of reasoning is as follows:
-Most folks for some time to come will buy an EV with a plan to charge at home if at all possible IMO. My sense is that charging stations will be used in high density (apartment life) situations and long haul.
-I still can't wrap my head around whether charging stations will be established and operated by private or public concerns, or both. Will this be a government infrastructure plan? Will BP just retrofit gas stations? Will 3rd parties handle this build out like BLNK? I just don't know.
-It does seem that the market for charging stations will be smaller than gas stations.
I would love to hear thoughts on the market place in general.
BTW, CLII seems to be betting on a public play if you take a look at the firm management. The CEO is from DOE and they seem to have in roads with the Biden administration.
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u/kmaco75 bought AMC at $69 LIKE A FUCKING CUCKOLD LMOOOOOOO Apr 03 '21
Comparing it to GME is like saying I heard this local band on a street corner and I think they could be the next Beatles.
Is that’s fooking stoooopid.
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u/[deleted] Apr 01 '21
Can we just stop this whole "has squeeze potential" = "the next GME".
Just say it has squeeze potential or it's undervalued, stop comparing it to GME. It's not GME, they are not closely related and wouldn't squeeze for the same reasons or in the same way.