Workhorse Stock – Is Workhorse (WKHS) Stock All Set To Rebound To $15 in June? – Fintech Zoom
Over the course of the past 12 months, electric delivery vehicles manufacturer Workhorse Group (NASDAQ:WKHS) got a lot of press attention since it was in the running for the huge United States Postal Service contract.
Consequently, the stock soared as well, and in the period between February 2020 and February 2021, the Workhorse stock clocked gains of 1260%. However, once the company failed to bag the $6 billion contract, the stock slumped and it has been in a negative spiral ever since.
The USPS contract is now in the past and it is not the end of the world for Workhorse Group. There are still plenty of opportunities out there for the company’s electric delivery vans. Last December, a report from the New York Times revealed that as many as 330000 delivery vehicles were sold in the United States in 2020. More importantly, with the continued growth in e-commerce, the demand for such delivery vehicles is expected to go up. Hence, all is not yet lost for Workhorse despite the USPS setback.
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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.