WKHS Stock Price: Workhorse Group Inc. rebounds amidst Tesla earnings
|- NASDAQ:WKHS gains 1.99% during Wednesday’s trading session.
- Electric vehicle sector gains on Tesla’s earnings call.
NASDAQ:WKHS bounced back on Wednesday, gaining 1.99% to end the trading day at $16.41 per share. It was positive for investors to see Workhorse Group back in the green after the stock price fell on Tuesday, even following some positive announcements from earlier in the week. The stock price actually peaked at $17.20 per share as the markets opened, but had settled back down by the time the markets closed for the day.
Workhorse Group news: Stock price, Nasdaq back in the green on Wednesday
The electric vehicle sector was a mixed bag on Wednesday, as companies anxiously waited for the after-hours Tesla (NASDAQ:TSLA) earnings call. While Workhorse managed to stay in the green, several other electric vehicle companies started the day up but finished the trading session lower. Nio (NASDAQ:NIO), Ayro (NASDAQ:AYRO), Tortoise (NASDAQ:SHLL), and Nikola (NASDAQ:NKLA) all finished down today as investors speculated on a pullback if Tesla’s news was not positive. Much of the action came after hours, however, as all of these made positive gains after the trading session had closed, once Tesla had announced its surprise profit growth for the second quarter.
Workhorse investors will continue to keep their eyes peeled as the company finds itself as one of the four left, and the only all-electric company, in the bid for the USPS contract valued at around $6 billion. As the world remains enamoured with Tesla, one takeaway from their earnings call that Workhorse investors should keep note of is the announcement that the Tesla Semi is scheduled to hit roads by 2021. Workhorse will need to do their best to corner the last-mile delivery market before then, as other rival Nikola may be ready to start rolling out their hydrogen-powered semi-trucks by 2021 as well.
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