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Trade Alert – Workhorse Group Inc. (WKHS)

by | Jun 30, 2020 | Daily Trade Alert

Electric vehicle stocks have become incredibly explosive.

One to consider is Workhorse Group Inc. (WKHS). While the stock exploded from a low of $8 to $14.51 in the last few days, we believe there’s much further upside remaining.

For one, analysts at Cowen said it deserves a bigger valuation increasing its price target from $4.50 to $11.50. Two, the company just announced its EV delivery vans passed government safety tests. And three, it could soon produce its vans for Ryder and UPS.

On Monday, WKHS saw volume spike to 125.2 million, which is up substantially from daily average volume of 8.5 million shares. This morning, we’re likely to see more big volume, with the stock up another $2.25 in pre-market trading.

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