#Workhorse stock stocktwits registration

Today has looked a lot better, but can it be sustained?Īnd notoriously weak seasonality associated with the months of September and October lends a bit more evidence to that possibility that the market is correcting. As of Tuesday’s closing bell the Nasdaq Composite had shed just over 10% from its most recent all-time-high less than a handful of days ago. And following a tech-led, record-breaking rally which spawned from March’s short-lived Covid-19 bear market, it’s happening all over again. You can reach him on StockTwits at Larry began writing columns for InvestorPlace in 2015.All stocks - and markets for that matter - correct at one point or another. Among his highly successful contrarian picks have been solar stocks, Roku, and Snap. He has been employed by The Fly and Israel’s largest business newspaper, Globes. Larry has conducted research and written articles on U.S. On the date of publication, Larry Ramer held long positions in ARVL and BB. Investors should definitely sell WKHS stock. At worst, the company could be bankrupt by the middle of 2022. Workhorse has missed too many opportunities and its shares now looks poised to, at best, tumble sharply in the next year. But back in September Barron’s reported that a buyer of Workhorse’s drones said that they had malfunctioned. I think the EV maker would have trouble selling many new shares of its stock at decent prices.įinally, bulls reportedly now believe that Workhorse’s drones could save the day for the company and for WKHS stock. Workhorse had just $205 million of cash as of March 31, and with the Street souring on the stock and many Reddit-oriented investors turning more to other names like BlackBerry (NYSE: BB), AMC (NYSE: AMC), and ContextLogic (NASDAQ: WISH).

#Workhorse stock stocktwits registration

Two other potential positive catalysts identified by bulls - a trademark registration and a court challenge to the USPS’ decision - probably would not prevent Workhorse from going belly up because they would likely take many years to materialize. Nor would Democrats be thrilled to upset voters in Wisconsin - which is a major swing state that could determine both control of Congress and the White House in the coming years - by overturning the USPS decision. WKHS stock bulls continue to hope that Congress will intervene to give the USPS contract to Workhorse.Įven if the latter company is up to the task (and a report by a short seller stated that Workhorse could not fulfill the contract), Democrats probably do not have enough votes in Congress to take the deal away from Wisconsin’s Oshkosh and give it to Workhorse. Lordstown’s issues certainly do undermine my confidence in Workhorse.Īlso worth mentioning is that Workhorse bulls were touting Workhorse’s shares of Lordstown stock as an important asset last year. The struggles of Lordstown, which recently announced that it may go out of business in the next year, should certainly not increase anyone’s confidence in WKHS stock. What’s more, in the company’s Q1 earnings press release and in the prepared remarks of its executives on its Q1 earnings conference call, Workhorse appeared to make no mention of the number of vehicle orders that it had accumulated. Partly due to its failures on those fronts, Workhorse’s first-quarter results were fairly dismal. Missed Opportunities and WKHS Stockĭespite the still-large, $1.7 billion market capitalization of WKHS stock, the automaker has not made any large deals or cemented any major partnerships. With Workhorse struggling in the increasingly competitive commercial EV market, I think that its most likely fate is bankruptcy. In an apparent effort to justify their upbeat view of Workhorse, despite all of its failings, WKHS stock bulls have identified a number of remaining positive catalysts for the company that are all highly unlikely to materialize. Post Office and UPS (NYSE: UPS), along with the tremendous struggles of an affiliated company, Lordstown Motors (NASDAQ: RIDE), all bode very badly for its outlook.Īs a result, even assuming that the company will have enough money to produce and market its electric truck, it’s highly unlikely that it will sell enough EVs to prevent WKHS stock from tumbling. The EV maker’s inability to win any major deals or recruit any impressive partners so far, its apparent failure to cash in on opportunities with the U.S.