Workhorse Stock Going Much Higher (Ticker: WKHS)
It’s time to talk about this juggernaut of a stock and that stock is Workhorse Group, Ticker symbol: WKHS.
Workhorse Group designs, manufactures, builds, and sells battery-electric vehicles and aircraft in the United States along with producing medium duty trucks and delivery drones. If your reading this post, your not thinking about what the company does to make money, your thinking about the price action.
The price action of this stock is incredible. There is plenty here for advanced traders and even buy and hold traders. I say that because WKHS is only trading 15% below it’s recent high and if your previously bought it without trading the stock at all, most likely you will be profitable, unless you bought it higher than the current stock price of $25.78.
Workhorse has the potential of not only going higher, but blowing through the recent highs of Workhorse stock price of $30.99. With a short interest of nearly 30% in the stock, many people are betting that WKHS stock will eventually head the other way. People short of the stock sold the stock to start their position and must buy it back to close the position. Short sellers are always looking to buy the stock back at cheaper prices than they brought it for. That’s how they make a profit. If the stock were to keep heading higher, the short sellers will be losing money and the higher it goes, the more money they will lose. The only way for short sellers to stop the bleeding is to buy the stock back, which will create additional pressure on the stock to the upside.
Workhorse is in a hot space. The EV Sector. As long as Workhorse stock can keep relevant with those electric vehicles, there is no reason why the stock can’t keep heading higher. I remember when Tesla stock was in the same camp. Many shorts or non believers were in the stock. Tesla is now 1000% higher. Enough said.
In this short video, I show you where the stock can trade to and what are some good entry points in the stock if you are looking to go long. Thanks for watching and don’t forget to subscribe to the Youtube Channel.