A high price per stock can be seen on the 6-month chart, notably on February 4, 2021. The cost was $41.34. The current price is $16.27. The price has dropped sharply, but if we look at the chart for a month or five days, we can see that it is very stable.
May was a dismal month for Workhorse investors. They were underwhelmed by the electric vehicle maker’s first-quarter earnings. The company, however, jumped more than 40% in June once it joined the ranks of meme stocks backed by individual investors. Today, though, the stock is reversing course, plunging by 12%. Workhorse’s stock rose the most this week, but trading volume has been increasing all week. The 30-day average daily trading volume has increased by about 50% in the last few days, as the stock has joined a group of meme companies favored by Reddit users looking to boost the stock price.
The stock dropped sharply in May following the company’s poor results announcement. Only six of Workhorse’s electric trucks were delivered in the first quarter, resulting in revenue of $ 521,000. Despite this, the company’s market valuation was more than $ 1.8 billion as of Thursday’s end. Investors should exercise greater caution.
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Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.