triopack.blogg.se - Workhorse stock

Workhorse has about 1,100 orders pending with United Parcel Service and others. ( NIO Stock Report) has started turning its business around and the rumblings of Lucid Motors possibly going public has brought more excitement to this niche. With the going public of companies like Nikola ( NKLA Stock Report) and Tesla ( TSLA Stock Price) reaching new stock price milestones awareness grows. The future prospects for electric vehicles continue to strengthen. The important part, confirmed by CEO Duane Hughes is that “With this late-stage milestone certification now behind us, we remain well-positioned to execute on our production timeline for the remainder of the year.” Workhorse Pipeline Gallops Along This was previously delayed on account of the coronavirus pandemic. Then earlier this week, the company announced that it successfully completed Federal Motor Vehicle Safety Standards testing for its C650 and C1000 electric delivery vans. Commercial scale production of the”Endurance” electric truck is expected to begin early next year. On June 19th, market chatter from Business Journal pointed to the company singing of an LOI to sell 1,200 electric-powered pickups to ServPro. Why are shares of WKHS stock up? Let’s look at what’s happened over the last few weeks. At $10 this is the highest price Workhorse stock has traded at in more than 3 years. Furthermore, since we began discussing Workhorse, the (former) penny stock has climbed nearly 1,120%. On April 1 of this year, shares opened for trade at $1.70 and as of highs on June 24, WKHS stock has climbed as much as 488%. While trading volume has remained relatively light compared to this week, WKHS stock has mounted an impressive rally in the second quarter. That took the penny stock back down to lows of $1.35. Then when the market dropped in March, Workhorse wasn’t immune to the selling pressure.

But like many penny stocks, WKHS ended up pulling back by the end of the year. The breakout to ensue saw the penny stock explode to highs of $5.37 by the end of July.

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At the time WKHS stock was trading around $0.82. This was around the time that General Motors ( GM Stock Report) was looking to sell its Lordstown Plant to Workhorse, which was mentioned by name in a Trump Tweet. President, Donald Trump was actually at the center of the initial corporate catalyst. When we first started talking about the company, the U.S. Workhorse also has drone capabilities through its “Horsefly” product along with integrated tracking technology. In particular, the company focuses on the package delivery niche. It utilizes an electric powertrain as well. The company itself designs, develops, manufactures, and sells high-performance, medium-duty trucks.

If you’ve followed for a little while, you’re probably familiar with Workhorse Group because it was one of the companies we’ve discussed for the better part of the last year. Selfishly, I’ll use the latter definition because I can talk about more than just stocks under $1. Honestly, the definition doesn’t matter as much as the potential these stocks hold. The Commission, which oversees market activities, defines penny stocks as those trading below $5 a share.