3 Things Workhorse Group Stock Bulls Need to Happen Soon
Electric vehicles have been a long-held dream for many, and for investors, the right investments have been extremely lucrative. EV pioneer Tesla (NASDAQ: TSLA) came public a decade ago, and it's produced amazing returns for those who got in on the ground floor. Now, a host of other companies are emerging to stake their claims to the fast-growing industry.
Workhorse Group (NASDAQ: WKHS) hasn't gotten a lot of attention until recently, but its stock has been publicly traded for more than 10 years, and it's seen its share of ups and downs over that period. Most recently, the stock price has soared from just $2.50 per share at the end of May to as much as $19 on June 30. Bulls are excited about the prospects for the company, but they need for Workhorse to accomplish some key things in order to justify the stock's big move higher.
Workhorse's bread-and-butter product is its line of all-electric delivery vans, which come in 650 cubic foot and 1,000 cubic foot sizes. In late June, the company announced that both vans had successfully completed federal motor vehicle safety standard testing. That set the stage for Workhorse to move forward with its production timeline for the rest of 2020.
Source Fool.com
