After having hit its peak back in February, the electric delivery van manufacturing company Workhorse Group Inc (NASDAQ:WKHS) has lost 73% since. In recent times, the stock has had a rollercoaster ride.
This morning the Workhorse stock is up by 2% and that indicates a mild recovery after it declined by 12% on Thursday. That being said, it should be noted that the main setback for Workhorse came about back in February when it failed to win the massive contract from the United States Postal Service.
It was a 10-year contract and the winner of the contract was going to supply the United States Postal Service with a new energy fleet of vehicles. The news proved to be a significant setback and the Workhorse stock tanked by 50% on the same day. Since as far back as the early days of March, the company has not provided any updates with regards to its plans after failing to land the contract.
Finance and Entertainment Reporter
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