Workhorse Group (WKHS) Stock Sustained Above $15: Is a Bullish Sign?
The electric delivery van manufacturing company Workhorse Group (NASDAQ:WKHS) has had a pretty tough time ever since it lost out on the United States Postal Service contract earlier this year.
That was supposed to be the big contract that was supposed to propel Workhorse to new heights. At this point, the company only generates negligible revenue, and the prospects of growing those revenues appear quite bleak. At this point, there is considerable short interest in the stock but that is also the reason why the stock might move higher.
It seems that many retail investors are currently working in unison for a short squeeze in the Workhorse stock so that the stock price keeps rising. However, investors need to keep in mind that the company is involved in a business in which it is going to come up against steep competitions from the likes of Ford and General Motors among others. Hence, any rally in the Workhorse stock at this point is expected to be speculative rather than based on fundamentals.