• NASDAQ:WKHS hits new all-time high on Tuesday despite NASDAQ dipping for third straight session.
  • General Motors and Nikola strike a deal that re-ignites investor interest in electric trucks.
  • Workhorse continues to be the first movers in last-mile delivery space for zero-emission vehicles.
  • S&P 500 Futures fade pullback from monthly low, eye more clues for ECB, Brexit talks

NASDAQ:WKHS has spiked for the second straight trading session despite the broader markets in the midst of a correction. Workhorse Group officially hit a new all-time high on Tuesday at $23.85 before settling back down and closing the day at $21.38. It has been an eventful year for Workhorse investors as the stock has tailed the likes of Tesla (NASDAQ:TSLA) and Nio (NYSE:NIO) during the recent surge of the electric-vehicle sector. Shares are now trading well above the 60-day and 200-day moving averages and are up over 523% from the 52-week low price of $1.32.

The recently announced partnership between General Motors Company (NYSE:GM) and Nikola (NASDAQ:NKLA) sent the electric truck industry into a frenzy. Nikola shares were up over 40% on Tuesday after General Motors announced it will be Nikola’s strategic manufacturing partner – giving GM an 11% stake in the electric truck manufacturer. Nikola is said to be preparing to launch its Badger truck production by the end of 2022 – putting them in direct competition with Workhorse and the Tesla Semi for the future. 

WKHS stock forecast

WKHS stock price chart

WKHS has jumped nearly 20% from the start of the day on Friday after a separate agreement with Hitachi America (OTCMKTS:HTHIY) will give Workhorse access to Hitachi’s operations and supply chain. The deal marks a major strategic leap for Workhorse as it attempts to broaden its reach throughout America without the brand names of GM or Tesla as its backer. Workhorse still has the first wheels on the ground advantage and investors should hope that they continue to carve out a niche in the last-mile delivery industry before the likes of Nikola and Tesla hit the roads. 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news Join Telegram

Recommended content


Recommended content

Editors’ Picks

AUD/USD holds lower ground near 0.6950 on softer Chinese inflation

AUD/USD holds lower ground near 0.6950 on softer Chinese inflation

AUD/USD is holding lower ground near 0.6950 as sellers keep reins following softer Chinese CPI and PPI data. Markets remain risk-averse ahead of US inflation, which is crucial for the Fed's next rate hike move. 

AUD/USD News

EUR/USD: Fake triangle breakout drags Eurozone bulls to near 1.0200

EUR/USD: Fake triangle breakout drags Eurozone bulls to near 1.0200

The EUR/USD is hovering around Tuesday’s low at 1.0203 and is likely to display a steep fall on its violation. The asset is declining swiftly after facing barricades above 1.0240 and has shifted into bearish territory. In the early Tokyo session, the major has given a downside break of the 1.0209-1.0215 range.

EUR/USD News

Gold bears seeking a critical rally in US yields around CPI

Gold bears seeking a critical rally in US yields around CPI

The gold price is flat in Tokyo as markets await the US inflation data for July that will come out during the New York open. The price has been supported by lower yields and that is supportive because the yellow metal offers no interest. 

Gold News

Crypto Sleeping Giants: Hedera Hashgraph price could shock the world

Crypto Sleeping Giants: Hedera Hashgraph price could shock the world

HBAR price shows a drop in volume amidst the current downtrend. Hedera Hashgraph has the potential to rally towards 2000%. Traders should keep the smart contract alternative token on their watchlists and consider a dollar cost average approach for investing. 

Read more

FXStreet Premium users exceed expectations

FXStreet Premium users exceed expectations

Tap into our 20 years Forex trading experience and get ahead of the markets. Maximize our actionable content, be part of our community, and chat with our experts. Join FXStreet Premium today!

BECOME PREMIUM

Forex MAJORS

Cryptocurrencies

Signatures