![]() Actually, I wanted to see the company generally move in a different direction. Personally, I was glad to bear witness to this C-suite change. Meanwhile, there was a changing of the guard at Workhorse as CEO Duane Hughes was ousted on July 29 and replaced by Rick Dauch, an auto industry veteran. Month after month went by, and that complaint made no substantial progress. Federal Court of Claims against the USPS. Much of the early-2021 rally in WKHS stock was due to rumors that Workhorse was on the verge of winning that USPS contract.Īfter the contract went to Oshkosh, Workhorse filed a formal complaint with the U.S. It was, at the time, a massive blow to Workhorse’s stakeholders. Letting go of the problems of the past can be hard to do.Īs you may recall, in late February, a coveted United States Postal Service (USPS) contract ended up going to rival Oshkosh (NYSE: OSK). So, maybe we should be grateful that WKHS stock came down to a very reasonable price point. For an electric-vehicle stock, that’s a great value. On the positive side, though, Workhorse’s trailing 12-month price-to-earnings ratio is just 23.65. Since the stock is much more volatile than the broader market, it’s crucial to maintain small position sizes if you choose to invest. ![]() After peaking in the $40’s, the Workhorse share price embarked on a multi-month slide which, as of mid-October, was still in progress.Īt this point, I should also mention that WKHS stock has a five-year monthly beta of 2.76. Unfortunately, folks who got caught up in the hype phase were severely punished. Bear in mind, this stock cost less than $1 at one point, back in 2019. On February 4, WKHS stock topped out at $42.96. A Closer Look at WKHS Stockįor Workhorse’s long-term investors, early 2021 could be referred to as the “good old days.” At the same time, the current share price might be the bottom - and it would be a shame if you missed out on the best part of the electric vehicle ride. ![]() Ironically enough, 2021’s last mile could deliver Workhorse’s best results. After all, a reduced share price could mean enhanced value and a better reward-to-risk profile for prospective investors. However, now that WKHS stock is trading at a significant discount, it’s time to give Workhorse a second look. Granted, the company has had its share of problems, which informed investors cannot ignore. The Postal Service said funds through 2028 are expected to help with the purchase of 106,000 delivery vehicles, including 66,230 electric delivery vehicles.Now that the share price has come back to earth, it’s hard to find any Workhorse bulls on Wall Street. “Electrification of our vehicle fleet is now an important component of these initiatives.” “We are moving forward with our plans to simultaneously improve our service, reduce our cost, grow our revenue and improve the working environment for our employees,” Postmaster General Louis DeJoy said. The total investment in vehicles will now be around $9.6 billion, with $3 billion coming from the Inflation Reduction Act. The USPS is purchasing 9,250 commercial-off-the-shelf battery electric vehicles and 14,000 electric vehicle charging stations. USPS Is Electrifying: The USPS announced several new electrification initiatives this week for the “nation’s largest federal fleet.” ![]() Workhorse shares rebounded in 2022 on the heels of the USPS announcing it was looking to purchase more electric vehicles. Workhorse Group Inc (NASDAQ:WKHS), which bid on the USPS contract with its electric vehicles, saw shares fall after losing out to Oshkosh.
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