A comprehensive UPDATE of Workhorse Group (WKHS) and whether any NEWS since the original Stock Analysis video (   • An analysis of Workhorse ($WKHS) | Sh...  ) has changed its overall outlook! The stock price is around $16 as of recording - should you BUY $WKHS at that price?

Workhorse Group is a relatively young company within the Electric Vehicle segment, looking to specialise as a manufacturer of light trucks and more specifically, the "last mile delivery" leg of transportation. The company will likely only serve delivery companies such as FedEX, DHL and UPS and if it can win the current bidding war, USPS could become its PRIMARY customer base.

USPS currently operates an entire fleet of approximately 180,000 Grumman Long Life Vehicles, all commissioned between 1987 and 1994 and are thus extremely old at this point in time. Workhorse is looking to provide USPS with replacement vehicles and modernise its entire fleet with environmentally friendly EVs. Unfortunately it is currently engaged in an RFP process with three other companies - Mahindra, Karsan and another US company, Oshkosh. It remains to be seen who will emerge, but we may get a resolution in only a few short months!

The first is the appearance of Workhorse's CFO Steve Schrader on the Benzinga PreMarket Prep podcast (which aired on July 21st), where he discussed a few new developments but mostly reiterated information that was already public.

Secondly, news that Ryder - a publicly traded company on the NYSE which provides transportation, warehouse space and vehicle leasing - had entered into an agreement to offer Workhorse's C-Series trucks to its customers. Since they operate eleven electric vehicle servicing and charging stations throughout California in conjunction with In-Charge Energy, there clearly exists a MUTUALLY BENEFICIAL reason to cooperate with Workhorse.

Third, Workhorse also made it publicly known that another CINCINNATI company - eTrucks - had placed an initial order of 20 of its C-1000 trucks. The deal represents a great opportunity for Workhorse to diversify its customer base, in the scenario it does not secure the USPS contract!

The fourth piece of news, which was released on July 28th, was that the California Air Resources Board (CARB) had confirmed Workhorse's C-Series trucks HVIP Program eligibility. Entry into the program means that Californian domiciled companies can apply for a $50,000 subsidy, which when considering the average selling price of last-mile delivery vehicles also runs at $50,000, potentially means that companies can purchase Workhorse's trucks at an effective cost of $0! This could be a real BOOST to the company's revenue, if demand surges as a result of HVIP.

The fifth item covered in the video, is that ARK Invest - specifically the ARKQ ETF - had DOUBLED its $WKHS stock holdings from 180,000 shares 20 days ago, to now over 400,000. This means Cathie Wood and her team are clearly bullish on Workhorse and could be a sign of things to come, as she correctly predicted the rise of $TSLA well before it came to fruition.

Finally, Lordstown Motors released a brand new video demonstrating its W-15 based Electric Pickup Truck called "The Endurance" on July 30th. This could be huge news for investors, since Workhorse owns a 10% stake in Lordstown Motors and will also receive a 1% commission on the first 200,000 units sold! We take a look at the footage, but also look at how it might stack up against Rivian, GM, Tesla's Cybertruck and a soon to be released, an electric version of the US's most popular truck, the Ford F-150.

This video aims to provide greater detail surrounding all of the above topics/news items relating to Workhorse and ultimately, whether or not the stock has become more or less attractive, and if it is worthy of a buy given it has corrected off the all-time highs and is now consolidating.

Timestamps
0:00 Intro
0:40 Quick recap of Workhorse
1:36 Workhorse's CFO Steve Schrader appears on Benzinga's PreMarket Prep podcast
3:29 Ryder and Workhorse - Partnership made in heaven?
5:35 eTrucks submits initial purchase order
6:23 Workhorse received HVIP eligibility
7:34 ARK Invest doubles their WKHS position
8:55 Lordstown Motors purchase former GM factory
9:33 Agreement between Workhorse and Lordstown Motors
11:08 A look at the new video for The Endurance
13:01 Analyst price targets
14:02 Final thoughts on $WKHS
14:37 Outro

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Link to the Benzinga PreMarket Prep Postcast from July 21, 2020 featuring the Workhorse CFO $WKHS:
   • PreMarket Prep: All about EV stocks w...  
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