I bought in at $14 after the fall. It will buffer my bag holding on 100 shares at $31.

Seeking Alpha current review of WKHS:

Workhorse Group (WKHS)
Workhorse has been a public company for ten years. Originally AMP Electric Vehicles, it was established in 2007 as a developmental-stage vehicle electrification company, focusing on conversions. AMP Electric Vehicles went public in 2010 trading on the OTC market under the AMPD symbol. When the economic benefits of conversion became less certain, it pivoted away from passenger vehicles and began to focus on electrifying commercial vehicles. AMP acquired the Workhorse brand and the Workhorse custom chassis assembly plant in Union City. In March of 2013, AMP formally changed its name to Workhorse Group Incorporated.

The Company designs and builds a last-mile delivery electric vehicle. The C-Series EVs cover the larger size of commercial delivery vehicles in Classes 3-5. As part of its solutions, it also develops cloud-based, real-time telematics performance monitoring systems. It sells its vehicles to fleet customers directly and through its primary distributor, Ryder Systems. It is currently focused on bringing the C-Series electric delivery truck to market and fulfilling the existing backlog of orders.

The C-Series looks like a viable EV replacement for the 350,000 last-mile delivery vehicles sold in the U.S. annually. It recently announced an increased driving range from 100 miles to 160, which should open more market opportunities. It has a viable short-term go-to-market strategy selling fleets to delivery companies. It currently has test vehicles with UPS, DHL, FedEx, Amazon, and Walmart.

Workhorse recently lost out on the United States Postal Services Next Generation Delivery Vehicle project, however, it is in the process of challenging this decision. Additionally, its investment in Lordstown also provides an indirect investment opportunity. On November 7, 2019, the Company entered a transaction with Lordstown Motors to grant LMC a perpetual and worldwide license to certain intellectual property relating to its W-15 electric pickup truck platform and related technology in exchange for royalties, equity interest (approximately 10%) in LMC, and other considerations. This was a $320 million asset for Workhorse at the end of 2020.

Workhorse received a significant increase in orders in Q4/2020 but built just seven trucks in the fourth quarter due to production systems and supply chain issues. Workhorse plans to continue to take it slow, striving to build three of its composite-body battery-electric trucks a day in March with a plan to reach 10 trucks a day by the end of June. This makes its original 2021 goal of producing 1,800 trucks unlikely. It partnered with Hitachi and Hitachi Capital America ("HCA") to improve the Company's manufacturing, operational, and supply chain capabilities as well as to develop a national dealer network to support Workhorse's sales with vehicle financing options for both dealers and customers.

Workhorse has a market cap of approximately $1.9 billion. While Workhorse had ongoing revenue, unlike many other new EV companies, its revenue is still insignificant. It had a revenue of $1.4 million in 2020 and $377,000 in 2019. It has a backlog of over 8,000 vehicles but doesn't expect to be able to build many of those in 2021. It raised $270 million in capital over several financings, providing the Company with additional capital to build its backlog. It had cash of $215 million as of March 1, 2021. Because Workhorse is a traditional public company, it hasn't made long-term financial projections like SPAC-based companies.

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