Traders just need a little good news to make a lot of money. There is a tantalizing opportunity with a stock like Workhorse. While that may not be as much of a miracle as changing water into wine, it’s a distinct discipline. They have found a way to turn a lot of lemons into lemonade. I’ve come to have a grudging admiration for the dedicated Reddit traders. “The company also faces plenty of competition in the market for electric delivery vehicles as other start-ups such as Rivian and Canoo (NASDAQ: GOEV ), as well as automotive giants such as Ford (NYSE: F ) and General Motors (NYSE: GM ) push into the space,” he wrote. As Baglole wrote recently even within its niche of electric delivery vehicles, Workhorse faces significant competition. My InvestorPlace colleague Joel Baglole shares my bearish sentiment on WKHS stock. While it seems likely that the bill will make it to a House vote in some fashion it remains unclear what line items will remain intact.īut until the final status of this contract is rendered, there is a glimmer of hope for WKHS stock. However, that approximately $8 billion in new funding is undoubtedly tied up in the administration’s infrastructure bill. Workhorse has the backing of several influential Congressional leaders making it a likely beneficiary of some or all of these new EVs. The Postmaster General Louis Dejoy informed the House Appropriation Committee that if they would provide more “resources” (i.e. Apparently, only 10% of the contract was devoted to electric vehicles. The second argument, which is justifiably more bullish, has to do with the language of the contract itself. As you would expect, Oshkosh is denying this claim. Workhorse claims that the Wisconsin-based manufacturer will only be able to deliver low-emission fossil fuel vehicles. The first has to do with Oshkosh’s ability to manufacture electric vehicles. In this case, there seem to be two arguments that Workhorse bulls are hanging their hats on. If that was the end of the story, there wouldn’t even be a glimmer of hope for Workhorse. WKHS stock took a beating after the federal government’s decision to award its contract for the United States Postal Service (USPS) to the Wisconsin-based truck manufacturer Oshkosh (NYSE: OSK ). But if you’re on the outside looking in at WKHS stock, allow me a few minutes to dispel you of that notion. If you fall in that category, you don’t need to keep reading. Today, it’s par for the course if you have the proper risk tolerance. A year ago, I would have said that’s an unconventional way to make money in the market. Undoubtedly many retail investors are trying to band together and force a short squeeze on WKHS stock. Sure enough on Monday, June 7, Workhorse stock was up over 5% in late-day trading, it continues pushing up and has added 17 percent in the last five days. This will likely be the fuel that will keep moving shares higher. As of this writing, short interest in WKHS stock remains around 30%. It faces scalability concerns in a sector with growing competition, and yet there are diamond hands within the retail sector that are committed to waiting on WKHS stock. We are not responsible or liable in any way for comments posted by our users.The company has limited revenue and even more limited prospects for the same.
0 Comments
Leave a Reply. |