What's Going On With Workhorse Group Shares Friday?

Workhorse Group, Inc. WKHS shares are trading higher Friday after the company announced it will participate in the FedEx Service Provider Summit in early October in order to showcase its W56 electric vehicle.

The Details: Workhorse will be the Presidential Exhibitor at the summit which will take place in Orlando, Florida from October 1-4 2024. Specifically, the W56 vehicle will be featured at the event’s Ride & Drive.

“At Workhorse, we know the demands of parcel delivery inside and out. Our trucks are built with the reliability, driver safety, and comfort that last-mile routes require,” said Ryan Gaul, president of commercial vehicles at Workhorse.

“We also understand that uptime and return-to-service metrics drive success. That’s why Workhorse provides best-in-class quality and post-sales service and support to ensure our customers’ fleets operate at peak efficiency.”

What Else: Earlier this week, FedEx placed a purchase order with Workhorse for 15 W56 step vans. The purchase order is in an effort by FedEx to achieve global carbon neutrality by 2040.

How To Buy Workhorse Stock

By now you're likely curious about how to participate in the market for Workhorse Gr WKHS – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.

In the the case of Workhorse Gr WKHS, which is trading at $0.68 as of publishing time, $100 would buy you 147.06 shares of stock.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

Related Link: Uber Stock Spikes As CEO Praises Waymo’s ‘Fully Autonomous Trips’

WKHS Price Action: At the time of writing, Workhorse stock is trading 10.2% higher at 67 cents, according to data from Benzinga Pro.

Image: Photo via Shutterstock