Image Credit- Google
Losses are mounting up quickly – the company lost $158.2 million in its fiscal third quarter of 2024, up from a loss of $84.5 million in the previous year.
Image Credit- Google
First, there was a 1-for-25 split in May, followed by a 1-for-9 split in August. Finally, with the stock price down to close to a dime per share, Mullen split again in December, it performed a 1-for-100 stock split.
Image Credit- Google
It also said the company’s dividend of $2 per share was unsustainable. Icahn protested the report, but when the company’s earnings were a tremendous disappointment in the second quarter, he cut the dividend in half.
Image Credit- Google
The company had a rough year, with the stock down over 30%. Sales are down as the demand for Covid-19 vaccinations and treatments dropped.
Image Credit- Google
The company is undergoing a big change this year with the spinoff of its healthcare division into a new company to be called Solventum.
Image Credit- Google
The stock is down 11% over the last year, and management made some baffling decisions with its ill-fated handling of the Barstool Sports franchise.
Image Credit- Google
The question here is whether Blink can scale up rapidly enough to compete with other major players in the market. It already has partnerships with Mitsubishi to operate charging stations at the company’s 320 dealerships in the U.S.