Why Workhorse Shares Are Getting Hammered Today
Workhorse Group Inc (NASDAQ:WKHS) shares are trading lower by 10.6% at $15.10 as the stock pulls back following its recent retail-driven surge.
The company also owns 10% of Lordstown Motors Corp (NASDAQ:RIDE), which recently fell after mentioning going concerns that current cash levels are not enough to begin commercial production.
Workhorse Group is a technology company. It designs, develops, manufactures and sells high-performance, medium-duty trucks with powertrain components under the Workhorse chassis brand.
The company's products include trucks comprising powertrain and chassis. Its powertrain products include E-GEN and E-100.
E-GEN is an electric drive, transmission-free system, which has a gasoline/propane or compressed natural gas (CNG) engine that functions as an auxiliary generator. E-100, an all-electric, medium-duty truck, is an electric power train.
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