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re: Is anyone following WorkHorse ( WKHS )?
Posted on 2/24/21 at 9:34 am to Chucktown_Badger
Posted on 2/24/21 at 9:34 am to Chucktown_Badger
From a Motley Fool article today. I'm going to hold off for earnings. No sense in throwing more money into the ring on this one at this point.
quote:
Given the massive scale needed to handle this order, Workhorse always seemed unlikely to get more than a sliver of the total prize at best.
Workhorse is more than a one-trick pony. The company has a backlog of more than 8,000 vehicles worth about $600 million in revenue, as well as potential royalty payments from Lordstown Motors. But the Postal Service contract would have been a path to the express lane. Its challenges as a start-up are more daunting without the deal.
0
Posted on 2/24/21 at 9:35 am to Jag_Warrior
quote:
earnings on March 1
Good point. May want to wait on new long positions until after that.
Still, I like picking up stocks like this after a huge drop when sentiment is at a low. I'll be looking for an entry to go long in the next week or two.
Posted on 2/24/21 at 9:38 am to Douglas Quaid
quote:
I'll be looking for an entry to go long in the next week or two.
At this point I'm questioning how long they can even stay solvent. Feels like closing the doors or a massive new issuance might be realistic options. Yeah, they have $600MM in orders, but if you can't keep the doors open long enough to build the vehicles and invoice for them...
ETA: On June 11, 2020, this stock was trading at $3.42, and the promise of the USPS contract (and pretty that much alone) is what drove it to the levels we saw. So while it may not go all the way back there, it seems a possibility that well below $10 is on the table.
This post was edited on 2/24/21 at 9:42 am
Posted on 2/24/21 at 9:49 am to Chucktown_Badger
The fact they already said they’re going to explore legal options over losing the bid sort of shows you it’s their only play. I’m just holding at a big percentage loss but I never put in much money.
Posted on 2/24/21 at 10:04 am to Chucktown_Badger
quote:
Yeah, they have $600MM in orders, but if you can't keep the doors open long enough to build the vehicles and invoice for them
And those orders are highly contingent upon production and delivery milestones.
Their UPS deal from nearly 3 years ago was for 950 vehicles according to WKHS. Only 50 were ever delivered.
All of these preorders for EVs are shaky as hell.
Posted on 2/24/21 at 10:11 am to TomRollTideRitter
So they are going to burn thru more cash that they don't have, only to lose in court? They have almost zero production capacity. USPS has been beat up for a while for terrible performance, picking a company that has failed to meet a Fedex order of 20 placed in 2018 is a massive risk they shouldn't even consider.
Posted on 2/24/21 at 10:14 am to Chucktown_Badger
quote:
Ugh...i was thinking about averaging down today, but that could be another shot to the gut. I know earnings expectations will be low but if they're worse than expectations, losing more on this is likely.
If recent history in the market is any indication it won't matter one bit what the earnings report says (good or bad). The price will drop.
Posted on 2/24/21 at 10:20 am to Capt ST
quote:We all should have seen this coming. The new administration is easy to follow, they want these things done NOW....in the future I will go with my gut on who gets these deals. It wont be the startup that is trying real hard. It will be the company that can deliver efficiently and quickly.
So they are going to burn thru more cash that they don't have, only to lose in court? They have almost zero production capacity. USPS has been beat up for a while for terrible performance, picking a company that has failed to meet a Fedex order of 20 placed in 2018 is a massive risk they shouldn't even consider.
Posted on 2/24/21 at 11:02 am to Golden_Retriever
just bought into workhorse, i see a future in the company with other logistics companies
they've already done some business with UPS which i see as a much better path forward than the shitty USPS
they've already done some business with UPS which i see as a much better path forward than the shitty USPS
Posted on 2/24/21 at 11:03 am to DVinBR
quote:even if you think that, why were you in a hurry to do so?
i see a future in the company with other logistics companies
Posted on 2/24/21 at 11:10 am to castorinho
because rumors of the USPS contract caused the stock to get way ahead of itself, i feel comfortable finally buying WKHS with this dip due to this information finally coming out and is finally past us. Time to look years down the line, sure it's a risk, but WKHS makes attractive electric trucks with top notch technology
Posted on 2/24/21 at 11:23 am to DVinBR
quote:
which i see as a much better path forward than the shitty USPS
The broader market, investors, and analysts clearly disagree with you.
Posted on 2/24/21 at 11:26 am to DVinBR
quote:if you think that, then it still is ahead of itself because it wasn't here prior to the USPS rumors.
because rumors of the USPS contract caused the stock to get way ahead of itself,
Posted on 2/24/21 at 11:28 am to castorinho
I’m out of Workhorse. EV is like Crypto in my mind. Eventually the cream will rise to the top and that’s Bitcoin and Tesla for me. The rest will bottom out.
This post was edited on 2/24/21 at 11:29 am
Posted on 2/24/21 at 11:45 am to Jag_Warrior
quote:
Be aware that they announce earnings on March 1 before the bell.
You mean losses, right?
I rolled the dice and grabbed a small position under $14.
Posted on 2/24/21 at 11:49 am to TomRollTideRitter
I’m like you. Big loss but I only put $1K in. I have $5K to use as my play money. Everything else is in index funds with a few of my Roth $ in solid mutual funds.
Posted on 2/24/21 at 11:49 am to TigerDeBaiter
I'm out after a 55% bath. Oh well, onto the next one. I feel like the remaining 45% of my money can earn a lot more in something else than waiting around on this one to bounce back, if it ever does.
This post was edited on 2/24/21 at 12:04 pm
Posted on 2/24/21 at 12:02 pm to NaturalBeam
I don't really have all that many shares, so depending on the account I'm using I have a few different takes. A couple accounts I pulled the plug, and I'm going to make it back elsewhere. Another account I'm holding for the long haul. It'll be fun to see which is the better strategy in the long run.
Posted on 2/24/21 at 2:27 pm to NaturalBeam
quote:
I'm out after a 55% bath
You took a 55% bath on WKHS?
$200 Million in the bank
$500 Million in pre-orders
$600+ Million in RIDE value ( 10% )
+ +
YowZA. AT is confused on this one. GL
This post was edited on 2/24/21 at 2:30 pm
Posted on 2/24/21 at 3:07 pm to TigerTatorTots
quote:
That dude stresses about losing $17 in crypto. He probably isn't lying if he threw in more than $50 into WKHS
Oh, if only we were all the big ballers that you are, TTT.
If only I were as smart as you, as rich as you, had as hot as wife as you, then all would be right in my world.
Alas...
This post was edited on 2/24/21 at 3:14 pm
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