Workhorse (WKHS) Stock Attempts To Recover Lost Points of February Market

According to the latest news of the stock exchange, WKHS stock went up 27% to $14.42 for one day. It started to grow on June 1 to this day. There were slight drops, but for a small period. There are expectations that the stock will grow even more.

Workhorse (WKHS) Stock Attempts To Recover Lost Points of February Market

Today, the market is reversing its trend away from value names in sectors like commodities and industrials and toward growth names. Recently, the EV sector has been gaining momentum. And today the Workhorse Group and the other 2 companies have grown by more than 18%. The gains are hardly making a dent in the losses experienced thus far this year.

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Workhorse Group was particularly badly impacted after losing a proposal for a 10-year contract with the United States Postal Service to replace its mail delivery fleet with new energy vehicles. In May, Workhorse released its Q1 financial update for 2021, and sales fell short of expectations, with only six trucks delivered.

Michael Rowels

Weekend Contributor. Writing for business and finance publishers has become his passion over the last decades after he completed a master's degree in Financial Management. Sharing some opinions and forecasts to thousands of readers is a routine job for him but he never promises to invest in one stock.