Wallbox's stock jumps after teaming up with Best Buy to sell Pulsar Plus home EV charges

Shares of Wallbox N.V. (WBX) jumped 4.8% in premarket trading Wednesday, after the maker of electric vehicle charging systems said it was teaming up with Best Buy Co. Inc. (BBY) to sell its Pulsar Plus EV chargers nationwide. The Pulsar Plus is compatible with all EVs, including those made by Tesla Inc. (TSLA) when used with an adapter. The chargers will be available on BestBuy.com and in select Best Buy stores. WallBox's stock had edged up 0.4% on Tuesday to snap a five-day losing streak in which it tumbled 12.6% to close Monday at a four-month low. The stock has lost 24.3% year to date through Tuesday, while shares of EV charging network companies Blink Charging Co. (BLNK) have dropped 65.3% and of ChargePoint Holdings Inc. (CHPT) have fallen 40.5%. The S&P 500 has gained 16.2% this year.

-Tomi Kilgore

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

09-13-23 0714ET

Copyright (c) 2023 Dow Jones & Company, Inc.