Why Shares of Workhorse Group Plunged 15% in March

After plummeting 53% in February, shares of Workhorse Group (NASDAQ: WKHS) continued to slide last month, falling 15%, according to data provided by S&P Global Market Intelligence.

Investors had high hopes that Workhorse Group would come away as a winner regarding its bid for a contract with the U.S. Postal Service (USPS) to help electrify its fleet of delivery vehicles. In January, for example, investors had driven Workhorse Group's stock 74% higher on the belief that Workhorse would win the award. Their optimism quickly faded, however, when the USPS ultimately decided to award the contract for Next Generation Delivery Vehicles (NGDV) to Oshkosh (NYSE: OSK) in February.

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Source Fool.com