WKHS stock is down for sure, but that’s not necessarily a bad thing.Ĭurrently, the stock stands apart due to its low valuation. So, it seems that there will be some new talent at Workhorse – and, we can hope, a more productive direction for the company. With that, Dauch added that he’s excited about the “multiple business opportunities ahead for last-mile delivery truck and drone system technologies.”Īnd by the way, Workhorse recently announced a slew of executive leadership appointments. “By withdrawing our protest, we can… better focus our time and resources on initiatives that we expect will be more productive for our company,” Dauch assured. Even better, the company’s new CEO sent out signals that he’s looking towards the future rather than obsessing over the past.
That’s when Workhorse finally withdrew its USPS bid complaint. On July 9, I begged Workhorse to let go of the past and quit dragging out the USPS contract war.įinally, my prayers were answered in mid-September. 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. Now that the share price has come back to earth, it’s hard to find any Workhorse bulls on Wall Street.
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