Workhorse Stock Is Popping Off Today: Here's Why

Workhorse Group Inc WKHS shares are trading higher by 13.42% to $3.55 Wednesday morning after the USPS said it plans to purchase additional electric delivery vehicles including over 34,000 commercially available off-the-shelf vehicles.

Why it Matters

Workhorse was previously a potential contender for a USPS EV contract in 2021 but lost out to Oshkosh Corp OSK. Oshkosh in 2021 won the right to manufacture zero-emission battery electric vehicles (BEV) and fuel-efficient low-emission internal combustion engine vehicles (ICE) for the USPS in their Spartanburg, South Carolina factory.

According to data from Benzinga Pro, Workhorse has a 52-week high of $12.34 and a 52-week low of $2.11.