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Why Workhorse Stock Crashed, and Then Jumped Higher, on Tuesday

·3 min read
Why Workhorse Stock Crashed, and Then Jumped Higher, on Tuesday
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Workhorse Group (NASDAQ: WKHS) took its investors on a wild ride on Tuesday, with the stock trading down more than 12% early and then spiking to trade up more than 10% around midday. Coming into this year, investor expectations were running high that Workhorse would win at least part of a massive $6 billion U.S. Postal Service contract to modernize its fleet of delivery vehicles. If successful, that push could turn the tables on the Postal Service contract in favor of Workhorse's all-electric bid.