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Work & Management
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Workhorse Group Inc. (WKHS)
NasdaqCM - NasdaqCM Real-time price. Currency in USD
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76,066 reactions on $WKHS conversation
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Must be some strong Kool-Aid being passed around
on this board.
Cult members still believe the 8000 orders are real
Founder Steve Burns, who left Workhorse in 2019
was ousted from Lordstown Motors after investigation
that he and other executives inflated preorder numbers.
Workhorse has safety recalls for multiple issues.
Workhorse announces C1000 will need redesign
FedEx and UPS go with competitors
SEC and DOJ investigating Workhorse
Workhorse withdraws USPS lawsuit
Dauch says C1000 not robust. Will not meet
needs of UPS type users but can be sold as demo
Imafed says the 8000 orders are real.
Relbochat says there may be only two.
Curious as to what others think as to how many
real orders for Workhorse trucks exist now?
Feels like time for a fact-check.
- Under new management with decades of experience in the automotive industry.
- Products for 2 huge growth markets: EVs and Drones.
- Undisputed first-to-market with a Class 3 EV step van for last mile delivery.
- Enough cash for 2 years without building a single unit.
- Customer demand very high, willing to buy every C-1000 able to be produced in 2022.
- 8000 unit backlog for EV vans including 1000 unit order from UPS.
- Resumption of C-1000 deliveries likely by 1st quarter 2022.
- Enough parts on hand to build an additional 500 C-1000s; meaning, no current supply chain issues.
- FAA certification of drone imminent.
- Large retailer evaluating drone offering - likely Walmart.
- Entered into contract with USDA for drone pilot program.
I prefer a CEO that comes in and cleans the mess, setting ground for future successes, rather than a mascarade of IPO (RIVIAN) where destructive PRs (Ford backing-up, delay in delivery) are released a couple of days after a monstrous valuation of $200B… I can’t wait to see redesigned, silent workhorse trucks parked in my neighborhood, launching packages with unmatched drone technology. It’s the future folks. It takes time. It will pay out
This is the actual quote. "Based on my conversation with all of our leading customers, we can confirm we have solid purchase orders, and strong, loyal customer support." Executives use careful crafted language. The intent is to be ambiguous but factually correct which allows people to misinterpret to their own detriment.
The CEO did not confirm an 8,000 vehicle backlog. Had he wanted to do that he would have said either I reaffirm the previous order backlog of 8,000. Or our backlog stands at 8,000. He did neither of those things.
What you can definitively take from his statement is that there is more than one confirmed order. Shareholders cannot assume any number of vehicles. Again, if the CEO had wanted to state a number he would have.
Imafed, I sincerely appreciate all the info you provide to the board - Thank you.
While the management team looks solid I really believe they need to enhance their communications. If they did recently receive a patent, where is the PR? Is that patent not significant to their plan? The one big deterrent from the stock moving up is the DOJ Probe and the SEC - If this is clear I believe we can see $10 Immediately and this would mute fuzzy pander. But aside from that we need clearity on direction of the company. It is good that they have more than 230 million in cash and little debt of 27 million but vision, plan and direction are needed. The CEO said that the board approved their plan - What is it?
More evidence of a backlog of more than 8000 vehicles…
Workhorse stock forecast 2025 - Google Search
Zipline (aircraft delivery service company based in South San Francisco) is about to launch delivery services in partnership with Walmart in northwest Arkansas.
I would like to have more frequent updates on Horsefly. The drone delivery industry is meant to grow to a $30B market size by 2027, and I would like to understand better what size of the pie will WKHS take from that.
Workhorse should be just about finished with the testing and certification of their C1000 trucks, looking forward to reading and hearing all about it on the next earnings report, they will probably start delivering them early next year.
$WKHS has shown its propensity double or even triple in one, two or three days. As soon as we get one significant piece of news, we should return to fair value. My opinion is that.is close to $20.
New patent, as indicated below, was just approved today. This patent has claims protecting what WKHS calls a nest. Essentially it is a funnel like opening that the UAV drops into and aligns with charging pads for recharging the battery in the UAV.
Hopefully, WKHS publishes a press release on this new patent.
Before the open:
Returned Shares 175.1k
Borrowed Shares 346k
Borrowed Change 170.9k
Looks like Rivian is having alllll sorts of issues with production.
Yeah I bet UPS is all giddy about that choice.
Yup everything looks great on paper and power point.
Any time now we should be hearing about big delays and production issues from Oshkosh on all those EVs they cant deliver.
Thats probably why they said they'd deliver UP TO 10% EVs.
Because they knew up front they'll NEVER be able to produce 10%.
Took a few days off from this one but at some point today I’ll be buying again, eventually this will take off and until then I’ll just keep accumulating more shares.
Anyone that can't see and admit, at this stage, that the share price is inversely proportional to the number of shares being borrowed, really needs to examine why they are investing or why they are so unwilling to recognize the facts. I keep posting these borrowed share events as I see them and if you follow the stock after additions to the borrowed side, you know that the stock price will be trending down. At least at these low volumes. If you want to make the point that the shorts are doing it because the company isn't worth investing in, that's fine. That is a plausible, although I disagree with it, opinion. But to deny the price manipulation by hedge funds/shorts is very disingenuous.
C1000 not robust or profitable.
I've talked to the big customers at UPS, FedEx, others, they expect to have these trucks last 15 to 20 years and go 15,000 to 20,000 miles a year, and carry up to 7,000 or 8,000 pounds of payload. I'm pretty darn sure the C1000 can't meet those kind of stringent requirements."
Just for perspective - AMC's 52-week share price range was $1.91 - $72.62. That is for a company that is really dealing in outmoded media.
WKHS is in an emerging, high-growth, high-demand market with Government backing. The current share price is simply a reflection of the amount of short interest in the company. When that interest dies down, which I speculate will be in the next 60-90 days, the share price should return to a fair value as compared to WKHS's competitors.
The company is still firs to market in Class 3 EV step vans, no matter how many times the bears on this board try to convince people otherwise. I continue to ask the bears to post a link to a Class 3 EV step van and I have yet to get a valid link to a product.
Longs will be rewarded for their patience while the shorts play their games of price manipulation.
SHORTS are in control of this stock and have been for a long time. Until this changes don't expect much and remember, the SHORTS are hurting the company. The SHORTS are comfortable with what they are doing and they have become obsessed with SHORTING WKHS.
Check @Raj chat history. He is paid to bash stocks.
The question is what would you rather have ?
Two shares of Workhorse or one share of Nicola?
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