WKHS
Electric truck maker Workhorse falls in the spotlight with earnings on tap
- Workhorse (NASDAQ:WKHS) was already a bit of battleground stock before
a volatile week of trading in response to the loss of a USPS contract on
next-gen vehicles raised the stakes even further.
- ARK Invest commented on the latest Workhorse development, saying that
it finds it odd that the USPS is not committing to a fully electric
platform. Cathie Wood's firm maintains EVs will dominate truck production
and sales in the next ten years.
- That raises the question if the USPS contract will become a political
issue, especially after a House Democrat indicated support in trying to
overrule the huge Oshkosh (NYSE:OSK) contract.
- While the ARK Autonomous Technology & Robotics ETF (BATS:ARKQ) added
660,500 shares of Workhorse after the sell-off, other firms are sounding
more cautious on the short-term implications for Workhorse from the
unexpected USPS news.
- "The conversation around the contest, whether Workhorse was selected
as the supplier months back, and how similar the Oshkosh truck looks to
the
Workhorse solution will all dominate now," warns Capital Partners analyst
Craig Irwin.
- Meanwhile, RF Lafferty says the firm will be looking at potential
orders from new and existing customers that will increase Workhorse's
backlog and evaluating the WKHS cash burn rate.
- Workhorse closed on Friday at $16.17 vs. the 52-week trading range of
$1.31 to $42.96.
- WKHS was on Seeking Alpha's Catalyst Watch for the week with the
company's earning report and conference call on Monday of high interest.
|Today, 9:00 AM|14 Comments
Electric truck maker Workhorse falls in the spotlight with earnings on tap
- Workhorse (NASDAQ:WKHS) was already a bit of battleground stock before
a volatile week of trading in response to the loss of a USPS contract on
next-gen vehicles raised the stakes even further.
- ARK Invest commented on the latest Workhorse development, saying that
it finds it odd that the USPS is not committing to a fully electric
platform. Cathie Wood's firm maintains EVs will dominate truck production
and sales in the next ten years.
- That raises the question if the USPS contract will become a political
issue, especially after a House Democrat indicated support in trying to
overrule the huge Oshkosh (NYSE:OSK) contract.
- While the ARK Autonomous Technology & Robotics ETF (BATS:ARKQ) added
660,500 shares of Workhorse after the sell-off, other firms are sounding
more cautious on the short-term implications for Workhorse from the
unexpected USPS news.
- "The conversation around the contest, whether Workhorse was selected
as the supplier months back, and how similar the Oshkosh truck looks to
the
Workhorse solution will all dominate now," warns Capital Partners analyst
Craig Irwin.
- Meanwhile, RF Lafferty says the firm will be looking at potential
orders from new and existing customers that will increase Workhorse's
backlog and evaluating the WKHS cash burn rate.
- Workhorse closed on Friday at $16.17 vs. the 52-week trading range of
$1.31 to $42.96.
- WKHS was on Seeking Alpha's Catalyst Watch for the week with the
company's earning report and conference call on Monday of high interest.
|Today, 9:00 AM|14 Comments
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