What's Going On With Workhorse (WKHS) Stock
Portfolio Pulse from Henry Khederian
Workhorse Group Inc's (NASDAQ:WKHS) shares fell by 4.91% to $1.16 despite no company-specific news. The stock's decline is in line with several EV stocks that fell after Tesla reported its Q2 earnings. Workhorse's stock has been weak since losing the USPS's Next Generation Delivery Vehicle (NGDV) program contract to Oshkosh Corporation in February 2021. The loss significantly impacted Workhorse's stock price and disappointed investors who expected a substantial revenue stream and enhanced credibility in the EV market from the contract.
July 21, 2023 | 7:57 pm
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Workhorse's stock fell by 4.91% despite no company-specific news. The stock has been weak since losing the USPS NGDV program contract in February 2021, which significantly impacted its price and disappointed investors.
Workhorse's stock price fell despite no company-specific news, indicating that it was influenced by the broader EV market's reaction to Tesla's Q2 earnings. The stock has been weak since losing the USPS NGDV program contract, which was a significant blow to the company's growth prospects and credibility in the EV market. This has likely led to a lack of investor confidence, contributing to the stock's decline.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100