WKHS - ワ―クホ―ス・グル―プ （Workhorse Group Inc.）

Image: Getty Embattled electric vehicle startup Lordstown Motors says it could run out of money if its deal with iPhone manufacturer Foxconn fails to go through. The deal is in jeopardy after Foxconn notified Lordstown that it’s in breach of its investment deal because its stock has fallen under $1 a share. Lordstown traces its origins to GM’s announcement in 2018 that it would be closing down its Lordstown, Ohio, factory. Then-President Donald Trump assailed GM over the decision, leading to the automaker’s decision to sell the plant to a struggling electric truck startup called Workhorse. Instead, Workhorse’s founder and former CEO, Steve Burns, started a new company called Lordstown Motors with the plan to build electric pickup trucks, centered on… Continue reading…

While not repeating the mantra that electric vehicles are the future can get you into trouble with the sector loyalists, we must at least agree that at least some enterprises deserve the title of worst EV stocks to sell. Fundamentally, while the underlying technology facilitates many opportunities, competition will likely be consolidated. It happened with combustion cars, it will probably happen again with EVs. Moreover, you’ll notice that I’m not putting Tesla (NASDAQ: TSLA ) on this list nor am I including legacy automakers that have transitioned to electrification such as General Motors (NYSE: GM ). These companies enjoy the capital to survive a brewing war of attrition . Unfortunately, smaller upstarts simply lack capital. Like it or not, these rate as the EV stocks to avoid. Granted, few people arguably like talking about selling troubled enterprises. However, that’s life – you’re going to win some, you’re going to lose some. With that, be wary of a possible EV stock crash in the startup arena.

Workhorse had less than one year of cash left on its balance as of the end of its fiscal 2022 fourth quarter. Read more to see why WKHS stock is a Hold.

Throughout the pandemic, EV stocks soared on the belief that a paradigm shift was underway in the automotive space. Though that continues to hold true, it’s apt at this time to contemplate which EV stocks might be ripe for selling. A myriad of headwinds, including the economic slowdown, supply-chain constraints, and the dwindling geo-political situation, was to blame for EV stocks’ downfall last year. The EV sphere is typically considered riskier than other sectors, which led to a precipitous drop in EV stocks in 2022. Moreover, as the sector recovers, the competition in the space is heating up, which bodes unfavorably for EV stocks. EV pioneer Tesla (NASDAQ: TSLA ) is shoring up its position by slashing vehicle prices, while traditional automotive players are moving into EVs in a major way. However, EV stocks were exposed amidst the trying conditions over the past several months. Hence, with that said, let’s look at seven EV stocks to sell now. FSR Fisker $5.02 HYLN Hyliion $1.55 RIDE Lordstown Motors $0.54 WKHS Workhorse $1.07 RIVN Rivian $13.38 GOEV Canoo $0.68 NKLA Nikola $0.82 Fisker ( FSR ) Source: shutterstock.com/Leonid Sorokin EV upstart Fisker (NYSE: FSR ) had set out to make waves in the EV realm offering a sustainable alternative to rival Tesla at various price points.

There’s a long-term shift in the automotive industry toward electric vehicles. However, not all players in the industry will be winners. In fact, there are quite a few EV stocks to sell, as the industry is full of companies that came public over the past few years with little track record of success or commercial demand. Indeed, the flood of SPACs has arguably left the market with far more EV stocks than needed. The industry is likely to consolidate around a few well-capitalized innovators, such as Tesla (NASDAQ: TSLA ), along with a variety of legacy automakers that are rolling out their own EV prototypes. These companies don’t make lists of EV stocks to sell. Meanwhile, many of the newer firms don’t have much funding and struggle to find successful market fit with their products. All this adds up to a situation where investors should be cautious. That’s especially true with these three EV stocks to sell. WKHS Workhorse $1.13 FSR Fisker $5.53 EVTV Envirotech Vehicles $2.94 Workhorse (WKHS) Source: Photo from WorkHorse.com Workhorse (NASDAQ: WKHS ) was one of the early entrants in the electric vehicle SPAC derby.

While electric vehicles may be the future of transportation, I’m afraid these EV stocks to avoid might not make the cut. Fundamentally, as a burgeoning sector, the price for entry for arguably most consumers is simply too steep. With a smaller addressable market for a wide array of competitors, it’s inevitable that many if not most enterprises will fail. Plus, investors must consider the obvious point: who’s going to fork over so much cash for an unproven automotive brand? After all, we’re living in a paradigm where consumers are considering pulling their money out of their bank accounts due to fears of broader economic catastrophes. That’s hardly a recipe for success. So, below are the EV stocks to avoid. FFIE Faraday Future Intelligent Electric $0.29 RIDE Lordstown Motors $0.60 WKHS Workhorse Group $1.12 SOLO Electrameccanica Vehicles $0.51 GOEV Canoo $0.53 MULN Mullen Automotive $0.10 FUV Arcimoto $1.47 Faraday Future (FFIE) Source: Shutterstock While Faraday Future (NASDAQ: FFIE ) initially started off as an exciting venture, here’s where the wheels fell off for me: the vehicles simply command too high of a price tag.

Workhorse was a short recommendation that fell on average 85%. Find out why I am changing my rating on WKHS stock from Strong Sell to Sell.

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March 21, 2023 – TheNewswire - Workhorse Group (NASDAQ: WKHS ), an American technology company focused on pioneering the transition to zero emission commercial vehicles, has announced the launch of its new Certified Dealer Program . The company says the initiative will develop a network of verified dealers that have passed the protocols necessary to safely repair and maintain the electric components of the Workhorse vehicles. The company has engaged Kingsburg Truck Center in California as its first certified dealer to ensure high-quality maintenance and support for electric vehicles. This initiative is a positive development for the zero-emission commercial vehicle industry. Workhorse CEO Rick Dauch stated: “We are committed to providing our customers with safe, reliable vehicles and the highest standard of service, and this new program will be an integral component to building a reliable network for sales and maintenance. The partnership with Kingsburg Truck Center expands our dealer footprint westward into California, the bellwether state for the EV market.” Workhorse is a technology company focused on providing electric vehicles and drones to the last-mile delivery sector.

CINCINNATI, March 21, 2023 (GLOBE NEWSWIRE) -- Workhorse Group Inc. (Nasdaq: WKHS ) (“Workhorse ” or “the Company” ) , an American technology company focused on pioneering the transition to zero emission commercial vehicles, today announced the launch of its new Certified Dealer Program, an initiative to develop an official network of verified dealers that have passed the protocols necessary to safely repair and maintain the electric components of the Company’s vehicles. Workhorse has engaged Kingsburg Truck Center (“Kingsburg"), a work truck dealer headquartered in Kingsburg, California, as its first certified electric vehicle (“EV”) dealer in California.

Workhorse again lowered production totals for 2022 at the Analyst Day to start December. Check out why I''m neutral on WKHS stock now.

The SEC concluded its investigation into Workhorse and will not recommend any enforcement, yet WKHS stock made another new 52-week low.

Workhorse Group Inc (NASDAQ: WKHS ) said it is discontinuing the C1000 electric cargo van program , effective immediately, as it focuses its resources on advancing its product roadmap for the W4 CC, W750, and W56 vehicles. The company made the decision as it thought the increasing time, cost, and resources being devoted to the C1000 would be better allocated to developing and producing its other vehicles … Full story available on Benzinga.com

Shares of EV maker Workhorse Group (NASDAQ:WKHS) are in focus today after the company provided strategic business updates as the new year dawns. Th…

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