New York, June 5, 2026, 17:02 EDT
- Blink is selling Envoy Technologies to Blade Ranger as it moves to focus on its EV charging infrastructure business.
- BLNK traded at 68.81 cents, off around 9%. ChargePoint and EVgo shares were also down hard.
- The stock is still under Nasdaq’s $1 minimum bid level with the compliance deadline set for July.
Blink Charging Co. shares dropped Friday after the electric-vehicle charging company said it will sell its Envoy Technologies business to Blade Ranger Ltd. Blink said the deal is meant to bring focus back on its core network.
Blink shares traded at $0.6881, off 6.77 cents, or nearly 9%. Volume was close to 2.9 million. The company’s market cap was about $98.5 million.
The timing is in focus. Blink wants investors to buy into its newer strategy: it plans to own and run chargers, making money from charging sessions and network fees, instead of mainly selling hardware. But that pitch struggled Friday, as U.S. markets dropped on the back of a strong jobs report that revived rate jitters. “The dam just broke today,” Carson Group strategist Ryan Detrick told Reuters. Reuters
Blink said it will sell Envoy, its shared electric-mobility unit, to Blade Ranger, an Israeli-listed tech company in renewable energy. Blink gets cash and a convertible note — a kind of loan that can turn into equity down the road. “We are optimizing Blink around what we do best,” CEO Mike Battaglia said. Blink Charging Co.
The announcement from the company had no headline number on the deal. Investors have to look at strategy first before they get to any financials.
Envoy wasn’t just a legacy asset. Blink Mobility picked up Envoy in 2023, aiming to get deeper into EV car-sharing at apartments, offices and hotels. At that point, Envoy said it had rolled out more than 300 electric vehicles across over 150 multifamily sites and office buildings.
The sale now goes in the opposite direction. Blink keeps saying it wants things simpler, with a push for better charger reliability, more use, and tighter financial results.
Q1 results spell out the story. Blink posted $20.8 million in revenue for the March quarter, about the same as last year. Service revenue was up 25%, but product revenue dropped 26.1%. Net loss shrank to $11.6 million. Blink ended the quarter with $38.0 million in cash and zero debt.
Peer trade gave no lift. ChargePoint Holdings dropped roughly 13% to $7.22, and EVgo slipped about 15% to $2.125. Pressure hit more than just Blink, with smaller growth stocks getting knocked down hard today.
Envoy’s sale doesn’t fix everything for Blink. The company is still posting losses, and its share price is stuck under the $1 mark Nasdaq requires for listing. Blink’s Jan. 30 filing said the company has until July 27, 2026, to close at or above $1 for 10 straight trading days to comply, unless more time is granted.
For now, investors want evidence. Next up is whether Blink can use its streamlined setup to drive more charger use, more solid service revenue, and cut its loss—before its weak share price pulls attention away again.
