- NASDAQ: BLNK is set to rise in Tuesday's session after tumbling down on Monday.
- Rising chances for a Democratic win in the elections could boost environmental-friendly companies.
- The general uptrend in electric vehicles may also boost Blink Charging's stock.
Whose supporters are more enthusiastic and energized, President Donald Trump or his rival Joe Biden? The incumbent mocks his challenger by using the nickname "Sleepy Joe.". While that may be the case, the determination to oust Trump is significant and could result in boost Blink Charging Co,'s stock.
The Miami Beach-based company builds electric charging facilities and would benefit from Biden's environmental agenda. While the former Vice-President is leading in the race to the White House, he would need support in the Senate to advance long-term green policies such that would include subsidies to companies such as Blink and discouraging the usage of dirty technologies.
The chances of winning the Senate of a clean sweep stand at around 70%, which is lower than the veteran politician's chances of entering the White House, 87%. A majority in the Senate, described as a "blue wave," depends on voting in several states.
While Election Day is officially November 3, Americans are already casting their ballots via early and mail-in votes. The US Elections Project is showing massive turnout which amounts to around 47% of the total vote count in 2016, with Democrats in the lead. While Republicans lean toward voting on election day, the current enthusiasm opens the door to a large victory for Dems. In urn, that would potentially allow the left-leaning section of the party to push for an even more ambitious plan – the Green New Deal.
See 2020 Elections: Seven reasons why this is not 2016, time to focus on the Senate
Investors are wary that ambitious government investment would hurt the private sector, but in the case of Blink Charging, it could serve as a boon.
BLNK Stock Forecast
NASDAQ: BLNK is changing hands at $8.15 in Tuesday's pre-market trading, up around 1.87%. That implies a break with the recent slump, especially the near 7% fall on Monday.
Support awaits at the September lows of $7.72 and $6.06. Resistance is at $10, a round number, and then at $11.11,. October's high point.
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