Workhorse Group (NASDAQ:WKHS) stock has moved up dramatically in the year that is last soaring almost 600%. In reality, WHKS stock is up 665% in 2020 and contains also fallen about 10per cent from its peak. But you can find rising concerns about the stock having rallied too far and too fast.
A Workhorse (WKHS) W-15 hybrid pickup that is electric on display at a branding occasion in Flatiron Plaza in New York.
Since my article that is last on stock, “Workhorse Stock Is on Track to Be an EV Winner,” which was published on Sept. 9, the stock is up slightly. At the right time i argued that it was worth dramatically more than its stock price.
When my first article that is bullish the stock was published on Aug. 19, the company’s stock price was $16.89. Since that time, WKHS stock has risen more than 50% to $26.63.
Doubts on Workhorse’s Valuation
But now I am starting to have doubts. The stock has moved up therefore fast, it seems to include all the news that is good the company. More over, Workhorse is still perhaps not profitable.
I have always been not stating that the shares will not rally in the event that ongoing business wins the U.S. Postal Service contract. The winner of the contract should quickly be disclosed really. But the stock seems to reflect a win of that contract by Workhorse already.
View out below if Workhorse does maybe not win that contract. But this company is not a hyped-up, hot-air stock like Nikola (NASDAQ:NKLA); Workhorse is making real products and making real deals.
The automaker finalized a strategic agreement on Aug. 31 with Hitachi America, and Hitachi Capital America for example. Workhorse Group (NASDAQ:WKHS) stock has moved up dramatically.