Why Blink Charging Stock Short-Circuited Today
Shares of electric-car charging network operator Blink Charging (NASDAQ: BLNK) collapsed today, falling 9.2% by 1:30 p.m. EST, and for reasons having nothing to do with its business. It was the company's CEO who seems to have shot Blink in the foot. Yesterday after close of trading, CEO Michael Farkas filed a Form SC 13D/A with the Securities and Exchange Commission in which he advised that on Jan. 12 -- a date when Blink shares closed at more than $52 -- he sold 540,000 shares of common stock at just $41 each.
