![]() 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. 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. 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. 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. Workhorse Group Inc (NASDAQ:WKHS) has launched a new Certified Dealer Program, an initiative to develop an official network of verified dealers.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. Workhorse Group Introduces Certified Dealer Programġ2:10 PM EDT, (MT Newswires) - Workhorse Group (WKHS) said Tuesday it introduced the Certified Dealer Program to form a network of dealers who have been trained in the necessary protocolsĮV Truckmaker Shuns Tesla's Business Model And Is Getting Into The Dealership Game. ![]() WKHS, OPEN and BILI Are Among Pre Market Gainers Noteworthy Highlights From Today's 52-Week Lows: Johnson & Johnson (NYSE:JNJ) was the largest firm by market cap to set a new 52-week low.The smallest ![]() Noteworthy Points From Today's 52-Week Lows: The largest company by market cap to set a new 52-week low was Bank of America (NYSE:BAC).TC BioPharm (HolĪ̂ On Thursday, 175 stocks hit new 52-week lows. On Friday, 469 companies hit new 52-week lows. (WKHS) were unchanged Monday, on what proved to be an all-around mixed This article was automatically generated by MarketWatch using technology from Automated Insights. Stock Remains Steady Monday, Still Outperforms Market UBS: Global car companies are moving towards overproduction, pricing pressure will increase ![]() UBS analysts predict a sharp rise in global car inventories in 2023 Interesting Points From Today's 52-Week Lows: Citizens Financial Group (NYSE:CFG) was the biggest company in terms of market cap to set a new 52-week Stocks That Hit 52-Week Lows On WednesdayĪ̂ On Wednesday, 220 stocks hit new 52-week lows. Shares of several auto & auto component companies are trading lower amid overa Workhorse Group Inc (NASDAQ:WKHS) shares are trading lower by 9.35% to $1.12 going into the close of Wednesday's session.
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