Citron attacks Blink Charging, says shares heading back to $10
Andrew Left's Citron Research took to Twitter to attack Blink Charging, saying the stock should trade back to $10. The shares in morning trading are up 6% to $28.34. Citron said, "New most ridiculous EV stock is $BLNK. No $$ for R&D, management accused of securities fraud, no real revenues. Expect a massively diluted deal soon so management can continue to deceive public.
This should trade right back to $10 where it is still overpriced. Total scheme...For all $BLNK investors who are naive, for same mkt cap of $BLNK you can buy ChargePoint $SBE with 73% market share, considering mkt penetration $BLNK should be at $1 per share. Consider $SBE spent $70mil on RD and $BLNK $0"