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John Rosevear owns shares of General Motors.

Separately, in a new note on Wednesday morning, BTIG analyst Gregory Lewis raised his price target on Workhorse's shares to a Wall Street-high $26 from $10 and reiterated his buy rating on the stock. Why Workhorse Group Stock Is Higher Today. Shares of Workhorse Group (NASDAQ: WKHS), a maker of electric commercial vehicles, were trading higher on Monday, as most electric-vehicle stocks rallied to open the week. Market data powered by FactSet and Web Financial Group. Postal Service contract that could be worth $8 billion in revenue. Shares of several special purpose acquisition companies (SPACs) that are in the process of merging with electric-vehicle start-ups fell sharply last Thursday, after Securities and Exchange Commission chair Jay Clayton said the agency is examining the disclosures of such companies. Tweet on Twitter Share on Facebook Google+ Pinterest. Returns as of 10/20/2020. CEO Duane Hughes said the added funds will give the company what it needs to get its new C Series package-delivery vans into production, and will bolster its balance sheet as it seeks to establish a revolving line of credit. Lewis wrote that while Workhorse's stock has gained over 200% since the C Series vans received U.S. government approval last month, that approval has put the company in position to bid for a U.S. Workhorse's shares had closed 20% higher on Tuesday and are still up over 700% since the beginning of April, but they were down about 15.3% as of 10:30 a.m. EDT on Wednesday. Image source: Workhorse Group.

Stock Advisor launched in February of 2002. There was no big news driving Workhorse's stock higher on Monday. Workhorse will only build a few hundred of its new C Series electric-delivery vans this year, but it's hoping to ramp-up production substantially in 2021. Irwin thinks that the cash value to Workhorse of a Nikola-type deal for Lordstown would be over $100 million, and Workhorse’s equity in Lordstown could be worth between $200 million and $500 million.

John has been writing about the auto business and investing for over 20 years, and for The Motley Fool since 2007. For Workhorse, such a deal could yield a nice windfall, Irwin wrote.

Cumulative Growth of a $10,000 Investment in Stock Advisor, Why Workhorse Group Stock Is Down Today @themotleyfool #stocks $WKHS, Why Workhorse Group Stock Is Higher Today, Forget Tesla's Battery Day, These EV Stories Are More Important, Why Shares of Workhorse Group and DiamondPeak Holdings Dropped on Wednesday, 3 Electric Vehicle Stocks That Are Better Than Tesla, Copyright, Trademark and Patent Information. John Rosevear is the senior auto specialist for Fool.com. But its fortunes are to a considerable extent tied to a company that is: Workhorse owns 10% of Lordstown Motors, an electric pickup-truck start-up that is in the process of merging with SPAC DiamondPeak Holdings. So why was the stock down on Wednesday? Why Workhorse Group Stock Is Up Sharply Today, Here’s What a High Credit Score Could Save You on Your Mortgage, Buy These Growth Stocks Trading Around $10 Before They Soar Higher, IPO Investing: How to Get In On the Ground Floor of Newly Public Companies, 3 Key Social Security Numbers You Need to Know, Americans Made Responsible Choices With Their Stimulus Checks — and They Need Another One. The group is likely rising today as investors have reassessed the risks of SEC scrutiny and decided that last week's sell-off may have been overblown. So what’s it worth to Workhorse? Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Auto investors, take note. John Rosevear (TMFMarlowe) Jul …

10 stocks we like better than Workhorse Group, When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. Show full articles without "Continue Reading" button for {0} hours. Auto investors should be clear that this is one analyst’s speculation; as far as the public knows, there’s no deal in the works for Lordstown. Workhorse said on Tuesday that an unnamed institutional investor has agreed to purchase $70 million in senior secured convertible notes. Why Workhorse Group Stock Is Up Sharply Today. As of 2 p.m. EDT, Workhorse’s shares were up about 10.8% from Friday’s closing price. SPACs, so-called "blank-check" companies formed by investors to take smaller companies public via mergers, have come under closer scrutiny in the wake of allegations that electric-truck start-up Nikola misled investors.

As of 1:30 p.m. EDT, Workhorse's shares were up about 12.5% from Friday's closing price. Workhorse owns 10% of Lordstown Motors with two years of anti-dilution protection, received in exchange for design and technology licenses last year. Lordstown’s electric pickup, called the Endurance, incorporates designs and technology licensed from Workhorse Group. Connect with friends faster than ever with the new Facebook app. examining the disclosures of such companies. Why Micron Is So Excited About Artificial Intelligence, Better Buy: ExxonMobil Corporation vs. Royal Dutch Shell, Karyopharm Therapeutics Inc (KPTI) Q3 2019 Earnings Call Transcript, 1 Reason Square’s Core Payment Processing Business Still Has Room to Grow, 3 Lessons From AbbVie’s $5.8 Billion Blunder With Cancer Drug Rova-T. Over 50 Finance July 20, 2020 comments off. The new notes are equivalent in seniority to those issued by Workhorse last December, will pay 4.5% annually, and are convertible into common stock at $19 per share.

While the company doesn’t yet have its Endurance pickup in production, it does have ownership of the former General Motors (NYSE: GM) assembly plant in Lordstown, Ohio, a large and modern facility. So what. That 1% fee could be significant even if a SPAC deal doesn’t happen soon, as Irwin thinks that Lordstown is in a strong position to raise capital. Irwin maintained his previous buy rating on Workhorse’s stock and reiterated the $27 price target from his note on July 13. Source: Photo from WorkHorse.com EV stocks are enjoying tailwinds as the sector as a … 3 Reasons Why Workhorse Stock Is a Long-Term Winner Workhorse Group is emerging as a leader in a huge new category By ... up from today’s ASP of … As of 1:30 p.m. EDT, Workhorse's shares were up about 12.5% from Friday's closing price. In a note on Monday morning, Roth Capital analyst Craig Irwin wrote that he sees a “rising probability” that a special purpose acquisition company, or SPAC, could take over Lordstown Motors in a deal similar to the one that effectively took electric big-rig maker Nikola (NASDAQ: NKLA) public in early June. The Motley Fool has no position in any of the stocks mentioned. John Rosevear has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. The Motley Fool has no position in any of the stocks mentioned. There was no big news driving Workhorse's stock higher on Monday. For the time being, at least, it's a safe bet that as DiamondPeak's stock goes, so will Workhorse's, and vice-versa. That's right -- they think these 10 stocks are even better buys. The Motley Fool has a disclosure policy.

Workhorse is also entitled to a 1% fee on all debt and equity raised to fund Lordstown during that two-year period, Irwin noted. That’s right — they think these 10 stocks are even better buys. Shares of electric-van maker Workhorse Group (NASDAQ: WKHS) were rising on Monday, after a Wall Street analyst speculated that a deal could be in the works for electric-pickup start-up Lordstown Motors, in which Workhorse owns a stake. But given the other SPAC deals we’ve seen in this space over the last several weeks, including deals involving hybrid-semi powertrain maker Hyliion, electric-SUV start-up Fisker, and driver-assist sensor maker Velodyne Lidar, a similar deal for Lordstown wouldn’t be surprising. Why Workhorse Group Stock Is Down Today There's good news, but the company's shares have already had a very big run. Contributor. If there is a deal in the works, we might find out more when Workhorse reports its second-quarter earnings results next month. 10 stocks we like better than Workhorse GroupWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. Why Workhorse Stock Is Flying Today. Workhorse News: Why WKHS Stock Is Surging 4% Today WKHS secured $200M in financing By William White , InvestorPlace Writer Oct 12, 2020, 2:07 pm EDT October 12, 2020

Workhorse Group, Inc. () Stock Market info Recommendations: Buy or sell Workhorse Group stock? See you at the top! Workhorse isn't a SPAC-related company; it went public way back in 2010. Join our mailing list to receive the latest updates from Over 50 Finance. Let's conquer your financial goals together...faster. Shares of electric-van maker Workhorse Group (NASDAQ: WKHS) were rising on Monday, after a Wall Street analyst speculated that a deal could be in the works for electric-pickup start-up Lordstown Motors, in which Workhorse … After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. Image source: Lordstown Motors. The Ascent is The Motley Fool's new personal finance brand devoted to helping you live a richer life. Get the latest Workhorse Group, Inc. (WKHS) stock news and headlines to help you in your trading and investing decisions. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*.



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