re: Stocks on your watch list

quote:

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WKHS. why?

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Workhorse Group Reports Third Quarter 2020 Results
9:00 AM ET 11/9/20 | Dow Jones
Related Quotes


12:39 PM ET 11/9/20
Symbol Last % Chg
RIDE
18.35 2.57%
WKHS
18.89 9.27%
Quotes delayed at least 15 minutes



CINCINNATI, Nov. 9, 2020 /PRNewswire/ -- Workhorse Group Inc. (Nasdaq: WKHS) ("Workhorse" or "the Company"), an American technology company focused on providing sustainable and cost-effective drone-integrated electric vehicles to the last-mile delivery sector, today reported financial results for the third quarter ended September 30, 2020.

Release Updates and Highlights

-- Sets 2021 production volume target at 1,800 vehicles.

-- Received a purchase order for 500 C-1000 trucks from Pritchard Auto

Company for its National Fleet Program, which is being financed by Hitachi Capital America ("HCA").

-- Through various financings, the Company improved its current cash position to over $260 million.

-- Workhorse strategic partner Lordstown Motor Corporation ("LMC") completed its merger with DiamondPeak Holdings Corp. LMC's Class A shares now trade on the Nasdaq Global Select market under the ticker symbol "RIDE."

Workhorse has maintained its 10% ownership stake in the merged company. That stake is estimated at nearly $285 million based on the November 6th closing price.

-- Partnered with Hitachi and Hitachi Capital America to optimize 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.

-- Recorded additional new vehicle sales orders from Fluid Systems and eTrucks LLC.