Stock of electric truck manufacturer Workhorse Group (NASDAQ: WKHS) surged on Tuesday and up 10.4% at 12:10 p.m. EST, with no specific news appearing.
But there is the prospect of two current events. Workhorse is first and foremost preparing its third-quarter results report on Nov. 9. Analysts expect a loss of $ 0.10 per share. However, if the company did hit that number, it would be a significant improvement from its quarterly loss of $ 0.17 a year ago.
As John Rosevear, my Motley Fool collaborator pointed out last week, Workhorse is expected to provide investors with up-to-date information on the production status of the electric van they are building. Ryder system, and perhaps other buyers as well.
So what now
And beyond that, there is still a contract with the US Postal Service for consideration. Investors have waited 5 years or more to find out if the Workhorse could win all or part of a $ 6.3 billion deal under the Postal Service’s plan for 180,000 delivery trucks. new to the environment or not. But on October 13, the Post Office refused to name the winners in the contract. However, they assert that they plan to announce the winners or the winners at the end of the calendar year.
Winning that deal would obviously be great news for Workhorse and a huge driver of its revenue stream. But today, just know it may Winning seems to be enough to keep the stock afloat.