EVgo Soars 48% on $2-a-Share Buyout Offer From LS Power; ChargePoint Jumps 10%, Blink Charging Rallies 7%

A buyout offer from a controlling shareholder is boosting EVgo (NASDAQ:EVGO), one of the largest public fast-charging networks in the U.S. EVgo stock is at $1.87, up 48% in early trading. LS Power Equity Advisors offered $2 a share for the EVgo Class A shares it doesn’t already own, MarketScreener reported.

Affiliates of LS Power already hold 56.8% of the voting power at EVgo. An amended ownership filing tied to the proposal was filed on November 2. As of October 30, EVgo runs more than 1,200 fast charging locations across 47 states.

Why EVgo Stock Still Trades Below LS Power’s Offer

EVgo stock remains below the offer price even after the jump, a discount that usually reflects uncertainty about whether a deal closes, how long it could take and whether the final terms change. Proposals from a controlling shareholder often go through negotiation before anything is settled, which leaves EVgo’s eventual price open.

Despite the rally, EVgo shares are down 35% year to date (YTD).

In Q2 2026 results released on August 5, EVgo’s revenue fell 15.7% year over year (YoY) to $82.65 million while its net loss grew to $46.34 million. That quarter also brought an agreement with Tesla (NASDAQ:TSLA | TSLA Price Prediction) to deploy EVgo-owned V4 Superchargers integrated into Tesla’s in-car navigation. CEO Badar Khan spoke in the results release. He stated that “EVgo delivered another quarter of solid execution, with 19% charging network revenue growth and continued expansion of our nationwide fast-charging platform.”

What the Peer Group Says About EVgo

ChargePoint Holdings (NYSE:CHPT) stock is at $10.51, up 10%. A sympathy move looks like the likely explanation for ChargePoint, as traders reassess what beaten-down charging networks might be worth after a takeover bid.

Blink Charging (NASDAQ:BLNK) stock is at $0.43, up 7%. That gain trails ChargePoint’s. Major indexes are higher, with the Invesco QQQ Trust (NASDAQ:QQQ) up 1%. Against that background, EVgo’s surge stands out as a company-specific move.

How EVgo’s Network Model Stands Apart From Its Rivals

EVgo owns and operates public direct current (DC) fast chargers, so drivers paying to plug in generate the core of its revenue, and beyond that network, the company builds stations for site hosts and utilities through eXtend and serves autonomous vehicle fleets. ChargePoint takes a lighter approach, selling connected charging hardware and software subscriptions to the businesses that own the stations. That difference ties EVgo’s results more directly to how often drivers use its own stations.

Blink blends owned charging sites with equipment sales and services, and the company is shifting toward contract manufacturing and energy management. Management at Blink is preferring recurring service revenue over raw hardware volume. Those differences mean an offer for EVgo’s owned network could carry a different read-through for each charging name.

What Comes Next for LS Power’s Offer and EVgo

Investors will be watching whether management addresses the proposal when it reports Q3 2026 results on November 9, with a webcast at 9 a.m. ET. Analysts and shareholders can watch for any comment on terms, timing or a possible revised price.

On the bullish side, the offer comes from a shareholder that already controls a majority of the vote, and negotiation could produce better terms. The bears may counter that offers can be revised or withdrawn, which could send EVgo stock back toward its pre-offer levels. EVgo’s grew losses could still weigh on the company. So could rising interest costs on its Department of Energy loan and the end of the Alternative Fuel Vehicle Refueling Property Credit, if talks stall.

For ChargePoint and Blink, sympathy gains could fade if the offer changes. A conservative approach could make sense while LS Power’s offer for EVgo remains pending.

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