Why Workhorse Stock Is Up Today
Shares of Workhorse Group (NASDAQ: WKHS) traded up more than 10% on Friday following an endorsement from a Wall Street analyst. It has been a tough stretch for Workhorse, with shares down nearly 60% since mid-February, but not everyone is ready to give up on the electric vehicle start-up.
Workhorse is focused on electric trucks and delivery vehicles, and investors coming into 2021 had high hopes that the company would win at least part of a massive $6 billion contract to modernize the U.S. Postal Service delivery fleet. But on Feb. 23, the post office picked a different company for the contract, taking the wind out of Workhorse's sails.
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Source Fool.com
