Hopefully, the fund would be much more circumspect in doubling down on its existing positions going forward or risk a repeat of its chronic underperformance earlier this year. After all, Workhorse’s fundamental shortcomings have never been a secret. The stock looks to be attempting to recover a support level that was recently broken. It is precisely for this reason that we find ARK Invest’s volte-face quite surprising. The stock was trending on social media sites such as StockTwits Thursday. Wood is on the record that she invests over a 5-year time horizon. Of course, this ‘buy high sell low’ kind of move is expected to result in a substantial case of “seller’s remorse” for ARK Invest. However, it seems that just ahead of the current dramatic reversal in the stock’s prospects, Cathie Wood liquidated the entirety of her Workhorse stake. Despite the stock plunging dramatically from its zenith, Cathie Wood kept adding to her position. Cathie Wood’s ARK Invest had maintained a sizable position in Workhorse over the past couple of months. This brings us to the crux of the matter. However, Lordstown’s own Endurance electric truck is faltering amid allegations of an inflated order book and the truck catching fire during testing. Workhorse Group stock forecast & analyst price target predictions based on 4 analysts offering 12-months price targets for WKHS in the last 3 months. As an illustration, Workhorse is expected to rely on the manufacturing prowess of Lordstown Motors ( NASDAQ:RIDE) to fulfill its contractual obligations. Readers should note that a sizable element of risk will still prevail over Workhorse even if it manages to win an additional contract for the electrification of the USPS. Thereafter, back in May, over 50 US House Democrats have now penned a letter to urge House Speaker Nancy Pelosi as well as the White House to sanction a proposal that would allocate around $8 billion for the electrification of the US Postal Service (USPS) fleet, with Workhorse expected to win a sizable pie of this new government contract. (NASDAQ: WKHS) (Workhorse or the Company), an American technology company focused on providing sustainable and cost-effective electric-mobility solutions to the transportation sector, today. Following a sizable backlash, Postmaster General Louis DeJoy had told members of the House Appropriations Committee’s financial services and general government subcommittee that the USPS would procure additional electric vehicles if the Congress were to furnish more resources. sec.gov - Exhibit 99.1 Workhorse Group Reports Second Quarter 2019 Results CINCINNATI, Aug Workhorse Group Inc. However, to the consternation of many US lawmakers, only 10 percent of the Oshkosh contract consisted of electric vehicles. However, back in February, USPS awarded the entirety of the 10-year, $6 billion contract to Oshkosh ( NYSE:OSK), thereby precipitating a brutal plunge in Workhorse shares. To wit, expectations around Workhorse becoming a key node in US Postal Service’s (USPS) Next-Generation Delivery Vehicles (NGDV) contract had spurred a dramatic 900-percent-plus rally in the stock last year. If the RSI continues to rise, the stock could see a reversal in time.Despite the ongoing stock surge, which allowed the stock to surge over 35 percent in the past week, the fundamental narrative around Workhorse has not changed. This shows that there is slightly more buying pressure in the market than there is selling pressure.
#Workhorse stocktwits update
Workhorse was up 9.58% at $3.43 at last check. The stock was trending throughout the day on social media sites such as Stocktwits. The company said it expects to sell about 250 vehicles in 2022 and generate at least $25 million in revenue.
(Nasdaq: WKHS ) (Workhorse or the Company ), an American technology company focused on providing sustainable and cost-effective drone-integrated electric vehicles to the last-mile delivery sector, will hold a. (NASDAQ: WKHS) shares are trading higher Tuesday after the company reported fourth-quarter results. Workhorse Group Sets First Quarter 2022 Earnings Call for Tuesday, at 10:00 a.m.
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