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Workhorse Group Inc. (WKHS)

NasdaqCM - NasdaqCM Real-time price. Currency in USD
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8.27-0.00 (-0.00%)
As of 10:51AM EDT. Market open.
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  • h
    hueske
    $WKHS something is happening this morning , my morning borner loading and exploding in into double digits today. Start loading up let's all enjoy the explosion . I am really glad that I found https://dailytrading.tools/TradingAccelerator They have the best technology to find stocks and manage the trades
  • W
    William
    Over-simplified extrapolation of yesterday's minor short covering (993k returned - 921k borrowed = 72K shares) which by the way was half of the total volume (the day before was over 3 million shares borrowed, 2 million returned and shorts going 1.1 million shares in the hole).

    72k covered cost the shorts 0.5% share price increase. With 42 million exchange reported short shares currently and ultra-conservatively assuming 0 naked or synthetic shares (likely there are tens of millions to add to the 42 million), let's assume shorts end up having to cover half of their positions. What does this look like?

    42m/2 = 21m shares to cover. 21m/72k = 583 times the amount of covering we saw yesterday.

    Current price $8.27 * 1.005 (because of 0.5% increase per 72k shares covered) ^583 (to the 583rd power because each successive 0.5% increase is not just on current price but the increased share price) =

    1831% share price increase or $151.46 share price if just half of the exchange reported shares are forced to cover! And this does not include the fact that large increases in share price will attract more buyers and the buying pressure will result in significantly more than 0.5% share price increase per 72k shares covered.
  • W
    Wai
    The WKHS CEO hinted at cooperation with the government on future projects, and their USPS lawsuit was dismissed without prejudice. You can bet the company is going to be working on future projects with the government in the near future.

    Many good things going on for this company, it has enough funds for operation and the FAA approval for their Surefly drone, plus business with other companies like Pritchard. The future is bright, no worries here and that is why I am staying firm with this stock.
  • U
    Ufuk
    I bought 600 shares at 28$, so I already lost 70% and at this point why would I sell? What would I even do with that little money?
  • W
    William
    As of about an hour ago, shorts were already over 300K more shares borrowed than returned for today. I'm sure we see another attempt to lower share price at significant cost to shorts. Speaking of cost to shorts, cost to borrow is starting to rise more dramatically with the average CTB now approaching 10%. https://preview.redd.it/f3kvhw0g42o71.jpg?width=1125&format=pjpg&auto=webp&s=3df597a1e54d9bc6303dbcb28e4353478d841246
  • A
    Anonymous
    I’m actually quite pleased that 9/15 has come and gone. The deck has been cleared and we’re all poised to hear what the new CEO is doing to reboot WKHS. Shorts have been able to take advantage of this transition time, but the gears will start turning in a favorable direction. This would be a great time to start or build a position in WKHS…
  • i
    imafed
    Let’s remind everybody why we are long in $WKHS:

    - Led by a new rock star CEO
    - First to market with a Class 3 all EV van
    - Rapidly growing market for EVs
    - Enough cash for a couple of years without new revenue
    - Drone technology for last mile delivery
    - Patent for van-launched drones
    - 8000 unit backorder and increased production and deliveries
  • F
    Frank9
    I spoke to someone today, a lawyer, The person doesn't have any investment in WKHS... I Showed him the CEO's statement, the WKHS claim that they filed and discussed the Appointments Clause... What the person told me, and this is just the person opinion... is the following - If the case was dismissed without prejudice the day before the scheduled court date - The other party (Govt/USPS/OSK) Called WKHS to discuss a negotiated deal....... We should see the results in the near future... Let's see...!!!!
  • A
    Anonymous
    But shorts, you’ve already put so many millions into suppressing the stock price. You HAVE to keep going…don’t give up….just another million is probably all it will take. Don’t be quitters. It’s not too late to take us longs to the cleaners.
  • i
    imafed
    End of day 921K shares borrowed, 993K shares returned.
  • B
    Billy
    Obvious they’re getting another gov deal on EV. There simply is so much money going into this EV sector that WKHS will win.

    Patience.

    Giddy up. This going back to $35
  • t
    thanh
    When they changed CEO, things were supposed to be changed. I support the drop. Focus on business, move on and seek other opportunities. Who wants you on the bid list when you have the history of suing clients. Good move CEO. Share price will go up eventually.
  • R
    Rogue Investor
    Dauch came in as CEO 60 days ago and is facing substantial legal costs and challenges from the SEC investigation. Then in Q2 results he must announce a redesign of all WKHS trucks and the end of the Lordstown position and its role in forward cash flow. The last thing he needs is a further war with the USPS. Give the man a break. He is trying to repoint this company in the right direction, IMO.
  • B
    BossUsa
    “After attending the recent Advanced Clean Transportation show, we are excited about the multiple business opportunities ahead for last-mile delivery truck and drone system technologies,” said Workhorse CEO Rick Dauch. “These opportunities include several commercial industry markets as well as a broad array of initiatives designed to modernize and electrify government funded and owned vehicle fleets across the country at the federal, state and city level.
  • i
    imafed
    One more thing to remember.

    $WKHS owns the patent for van-launched drone delivery. The shorts tout that Amazon also owns a similar patent. That is not true. Amazon's patent is for directing a drone's path from a delivery vehicle to a drop-off point. Not the same.

    WKHS's patent alone could be a windfall of profit in licensing fees. There is zero cost in licensing a patent and there are no production requirements. IT IS PURE PROFIT. If Rivian wants to build a van-launched drone for Amazon, they will have to license the rights from WKHS. This won't happen tomorrow or next week but it is surely on the horizon. Don't let the fear-mongers let you lose sight of this possibility.
  • i
    imafed
    Here is a synopsis of the Board of Directors of $WKHS:

    Raymond J. Chess, CHAIRMAN OF THE BOARD - 40+ years in the automotive industry, 37 years at General Motors.

    Richard Dauch, CHIEF EXECUTIVE OFFICER - Nearly 30 years of experience in the automotive and manufacturing industries.

    Harry DeMott, DIRECTOR - More than 25 years of experience in the investment community

    H. Benjamin Samuels, DIRECTOR - Served as CEO of Victory Packaging

    Gerald B. Budde, DIRECTOR - Eastern Regions Chief Financial Officer of AssuredPartners, Inc.

    Michael L. Clark, DIRECTOR - Chartered Financial Analyst (CFA) Charterholder with close to twenty years of investing and capital markets experience.

    Jacqueline A. Dedo, DIRECTOR - Over 30 years of global automotive, off highway, industrial and aftermarket experience.

    Pamela S. Mader, DIRECTOR - Over three decades of automotive industry experience, with a proven track record in leading Fortune 100 manufacturing organizations.

    According to @Vansmack, we have no management.
  • B
    Bonanza
    The withdrawal seems curious. Right now it could mean anything. It’s not out of the ordinary for matters to settle on the eve of litigation milestones: hearings, discovery, trial,etc. So this is a natural time for something like this to happen. Could be lots of things

    1. Workhorse new leadership could have decided this is too expensive, workhorse wants to have a good relationship with the government and conserve cash. But if that was the case I am surprised it is a dismissal without prejudice.

    2. Much of this case was sealed and you get a sense of things sitting in the courtroom that we out here don’t know. The judge may have even asked some questions he wanted the parties to be prepared to,address at the hearing. Sometimes the questions asked tell you what the judge is thinkings. So for better or worse the parties may have had a sense what the outcome of the hearing was going to be.

    3. Settlement may be in the works. This does seems possible given that the dismissal is without prejudice and the parties are not saying anything publicly. If workhorse lost, I would think oshkosh would have said they dismissed because the writing was n the wall full speed ahead for oshkosh now that this impediment has been removed.
  • i
    imafed
    Up to 1.02M shares borrowed; 413K shares returned. Net 612K shares added to short position.
  • F
    Frank9
    This company needs some good news.... it's been too long without... and the news we've been getting has been mainly drama and promises without foreseeable results....

    1. We need to have a contract that we sold the vans sitting in the lot,
    2. We need to get new contracts from major companies,
    3. We need to get new contracts from government, fed, state or local.
    4. We need FAA Drone Certification,
    5. We need to get part of the USPS Contract -

    - We need some good solid concrete news which will have substantive results, It's long, long overdue......!
  • S
    Steven
    almost 40% of the shares are loaned to shorts

    A squeeze is coming