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Will Workhorse Or Electrameccanica Stock Grow More By 2022?

January 8, 2021 8:00 am
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Will Workhorse Or Electrameccanica Stock Grow More By 2022?

Every week, Benzinga conducts a sentiment survey to find out what traders are most excited about, interested in or thinking about as they manage and build their personal portfolios.

We surveyed a group of over 800 Benzinga investors on whether shares of Workhorse (NASDAQ:WKHS) or ElectraMeccanica (NASDAQ:SOLO) stock would grow the most by 2022.

Workhorse vs. Solo Stock

Workhorse designs, manufactures, builds, and sells battery-electric vehicles and aircrafts in the United States. The company also develops cloud-based and real-time telematics performance monitoring systems that enable fleet operators to optimize energy and route efficiency.

The U.S. Postal Service expects to make a contract decision about Workhorse 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.

If the EV company is indeed in a strong position to win the USPS contract for upgrading its delivery fleet of 165,000 vehicles, it would be a preeminent source of revenue for the EV company valued at $6.3 billion.

See Also: Best EV Stocks.

Electrameccanica develops, manufactures, and sells electric vehicles in Canada. The company operates in two segments, Electric Vehicles and Custom Build Vehicles.

The EV company’s flagship product is the SOLO, a single seat vehicle. Electrameccanica is also developing Super SOLO, a sports car model; and Tofino, an all-electric two-seater roadster. The EV company also actively develops and manufactures custom-built vehicles.

Fifty-six percent of participants told us shares of Workhorse will grow more by 2022.

Workhorse traders shared their excitement around the Jan. 4 purchase order Workhorse received for 6,320 of their C-Series all-electric delivery vehicles from Pride Group Enterprises. The order is split between Workhorse's C-1000 and C-650 models and is subject to various production and delivery conditions.

Many respondents also expressed confidence, although admittedly speculative in nature, Workhorse will ultimately win the USPS order come the second fiscal quarter of 2021.

This survey was conducted by Benzinga in January 2021 and included the responses of a diverse population of adults 18 or older.

Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from over 800 adults.


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Every week, Benzinga conducts a sentiment survey to find out what traders are most excited about, interested in or thinking about as they manage and build their personal portfolios. read more