|

WKHS Stock News: Workhorse Group Inc.set to resume rises, technically well-positioned

  • NASDAQ: WKHS is set to kick off the first full week of October with gains.
  • Workhorse Group's stock has been retreating after the Trump bump.
  •  Friday's close above critical support is a bullish sign.
  • Hopes for cashing in on Workhorse's share in Lordstown Motors may fuel more gains.

A higher low – and especially on a weekly close – is always an encouraging technical sign. NASDAQ: WKHS shares fell for four consecutive days, gradually eroding the gains made on Monday. However, the close at $23.62 – despite being a daily drop of 5.82% on Friday – still leaves Workhorse Group's shares above the closing price last Friday, which was $22.13 

Can it continue higher? The initial upside target is $25, a psychologically significant level. According to pre-market data, WKHS is set to rise by 3.51% to $24.45, nearing that target. The bigger prize is $28.13, Monday's close, followed by the September peak of $30.60. The $22.13 level works as low support.

WKHS stock news

Workhorse Group Inc shot higher last week after President Donald Trump examined a Lordstown Motors truck on the White House lawn. The firm owns a 10% share in Lordstown. 

The leader of the world's most powerful country later tested positive for coronavirus and was hospitalized. Shares dropped ahead of that shocking news as the focus shifts to what happens with the stake in the fellow Ohio-based company. 

Lordstown Motors may make its way to the stock market via DiamondPeak Holdings – a Special Purpose Acquisition Company (SPAC). Workhorse investors may be wise to follow news of the potential financial move. 

As for Workhorse itself, finances still leave much to be desired, but the fuel for its rally comes from drones and electric vehicles it is developing. WKHS shares have room to rise if it is able to deliver its products to the US Postal Service (USPS). 

More WKHS Stock News: Workhorse Group Inc seems like a win-win on any election result

Premium

You have reached your limit of 3 free articles for this month.

Start your subscription and get access to all our original articles.

Subscribe to PremiumSign In

Author

Yohay Elam

Yohay Elam

FXStreet

Yohay is in Forex since 2008 when he founded Forex Crunch, a blog crafted in his free time that turned into a fully-fledged currency website later sold to Finixio.

More from Yohay Elam
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

EUR/USD softens below 1.1750 after Fed Minutes

The EUR/USD pair attracts some sellers near 1.1745 during the early Asian session on Wednesday. The US Dollar edges higher against the Euro after the release of minutes from the Federal Reserve's December meeting. The US Initial Jobless Claims report will be released later in the day. Trading volumes are expected to remain thin ahead of the New Year holidays.

GBP/USD trades flat above 1.3450 amid thin trading volume

The GBP/USD pair holds steady around 1.3465 during the early Asian trading hours on Wednesday. However, the Bank of England guided that monetary policy will remain on a gradual downward path, which might underpin the Cable against the US Dollar. Financial markets are expected to trade on thin volumes as traders prepare for the New Year holiday.

Gold attempts another run toward $4,400 on final day of 2025

Gold price makes another attempt toward $4,400 in Asian trading on Tuesday, keeping the recovery mode intact following Monday's over 4% correction. The bright metal seems to cheer upbeat Chinese NBS and RatingDog Manufacturing and Services PMI data for December. 

When the tape goes quiet the positioning speaks

From the outside this session looked like paint drying. Indexes barely moved. No reaction to Case Shiller. No reaction to the Fed minutes. The S&P 500 parked itself right where it started, and the much-discussed Santa rally stalled into a polite cough.

Economic outlook 2026-2027 in advanced countries: Solidity test

After a year marked by global economic resilience and ending on a note of optimism, 2026 looks promising and could be a year of solid economic performance. In our baseline scenario, we expect most of the supportive factors at work in 2025 to continue to play a role in 2026.

Crypto market outlook for 2026

Year 2025 was volatile, as crypto often is.  Among positive catalysts were favourable regulatory changes in the U.S., rise of Digital Asset Treasuries (DAT), adoption of AI and tokenization of Real-World-Assets (RWA).