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Workhorse: When It Rains, It Pours

Dec. 03, 2021 8:58 AM ETWorkhorse Group Inc. (WKHS)13 Comments
Pacifica Yield profile picture
Pacifica Yield


  • Workhorse has continued to suffer from setbacks to its tepid EV dream.
  • Fiscal 2021 third quarter revenue turned negative as the company suspended deliveries and recalled its C-1000 delivery truck.
  • The company still finds itself facing an uncertain future even as demand for EVs booms.

Fleet Vehicles

BrianBrownImages/iStock via Getty Images

To be fair to Workhorse (NASDAQ:WKHS) bulls, the performance of the company's common shares over the last few weeks has not been atypical, reflecting pretty much every other company within the small-cap and speculative growth spaces. Workhorse

This article was written by

Pacifica Yield profile picture
The equity market is an incredibly powerful mechanism as daily fluctuations in price get aggregated to incredible wealth creation or destruction over the long term. Pacifica Yield aims to pursue long-term wealth creation with a focus on undervalued yet high-growth companies, high-dividend tickers, and green energy firms. By Leo Imasuen

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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Comments (13)

Company probably worth $0 in the long run.

It's running up with all the other garbage out there last 2 weeks.
Gypsy1969 profile picture
Jerking your money around
Investing to do Good profile picture
It's still up 500%. this stock is at my watchlist at around 1 dollar.
Gypsy1969 profile picture
@falkoro Watch them file for bankruptcy like Lordstown will also
I commented months ago when it was $15 the performance justified at most $5/share. Well here we are. Probably today a $2-3 stock. Hope all those who got in when it’s in the $20-30’s are long out.
flyerguy1300 profile picture
My short position is loving this price fall, let it keep falling!
Interesting article. My only comment is that rather than shortsighted, this report is a year late and ignores the proven, energized, and focused leadership recently recruited. It is the execution ability of this team that will fix the problems and deliver on the larger last mile vision. In my opinion.
treespace profile picture
@pgszilagyi This sounds like the usual puffery that promoters have been pushing year after year without result. RIDE is using the same playbook: that was then, this is now, free beer tomorrow, tomorrow, tomorrow. I don't think the problem with WKHS or its spawn RIDE is a lack of bloviators or blind cheerleaders. The stock is down another 45% since you deemed this article "too late".

Competition is heating up. There are many well heeled competitors loaded with talented engineering teams (in particular software and back-end systems for connected fleets) and flush with cash. RIVN, Ford and GM to name a couple.
@pgszilagyi ". . .ignores the proven, energized, and focused leadership recently recruited." No product, recalled the product they did have; no manufacturing capability/capacity (just laid them off), and no plan! Their best hope is they get acquired, but not sure what you get. A train wreck.
I cease such opportunities. Uncertainties what create opportunities. You just have to do your own due diligence. If everything is clear, the price will not be at this level.
Pacifica Yield profile picture
Timing the bottom of sentiment is the difficult part.
@Leo Imasuen Any thoughts on EVTV with Phillip Oldridge as CEO?!
treespace profile picture
@wakawaka RE: "The price will not be at this level". You were right. Down another 45%.
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