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Here's Why GE, Workhorse, Lordstown And Beyond Meat Are Moving

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Here's Why GE, Workhorse, Lordstown And Beyond Meat Are Moving

One of the most common questions traders have about stocks is “Why Is It Moving?”

That’s why Benzinga created the Why Is It Moving, or WIIM, feature in Benzinga Pro. WIIMs are a one-sentence description as to why that stock is moving. 

Here’s why shares of GE, Workhorse, Lordstown and Beyond Meat are moving. 

GE Stock News

General Electric Company (NYSE: GE) shares are trading higher after the company reported better-than-expected fourth-quarter sales results.

General Electric is known for its digital industrial offerings and massive installed base spread across a variety of products and services, including aircraft engines, gas turbines, wind turbines, and medical diagnostic equipment, among others.

EV Stock News

President Joe Biden said Monday the entire U.S. federal fleet of vehicles would be replaced by EVs made in the United States. Shares of Workhorse Group Inc (NASDAQ: WKHS) and Lordstown Motors Corp (NASDAQ: RIDE) are trading higher as a result.

“The federal government also owns an enormous fleet of vehicles, which we're going to replace with clean electric vehicles made right here in America, by American workers,” said Biden.

The U.S. Postal Service expects to make a contract decision about replacement vehicles in the second fiscal quarter of 2021. This decision has been delayed multiple times already and now puts another layer of pressure on Workhorse, one of three finalists for the contract.

Beyond Meat Stock News

Beyond Meat Inc (NASDAQ: BYND) shares are trading higher after the company announced a joint venture with PepsiCo, Inc. (NASDAQ: PEP) to develop, produce and market snack, beverage products made from plant-based protein.

Beyond Meat manufactures, markets, and sells plant-based meat products in the United States and internationally.

 

Related Articles (GE + BYND)

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