Workhorse Group (WKHS) Slips Below $10: Should You Buy Now?

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.

Workhorse Group (WKHS) Slips Below $10: Should You Buy Now?

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.

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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.

Richard McEntire

Finance and Entertainment Reporter Richard is a bottle of wine - the older the sweeter. He has already found the sweetest hobby in writing entertainment and finance news for Own Snap. Readers get the updated posts regularly from him searching for real-time news.