2/3/2024 0 Comments Workhorse stock reddit![]() Workhorse has the lofty goal of making and selling at least 250 vehicles in 2022, an ambitious goal given that it is yet to start producing the said cars. The USDA project is for demonstration purposes but could expand its scope in future. ![]() It is currently working on securing contracts with other Federal departments and a leading retailer interested in its drone technology for monitoring, data procurement and analytics. The company has won a contract with the US Department of Agriculture (USDA). In addition, many are counting on the company’s customer-centric business approach to drive its future growth, helping it catch up with its competitors. Investors expect the firm to report significant progress towards its goal of starting production activities on time. It is currently working on producing its electric vehicles known as W56 and W34 starting in the second half of 2022. ![]() The tech company offers sustainable and cost-effective solutions to the transport sector. The company’s last quarterly report was disappointing as it failed short of analysts’ consensus estimates by a wide margin. Workhorse Group is set to release its calendar Q1 earnings results tomorrow before the market opens, and many hope that the firm will at least meet analysts' expectations. Therefore, the technical conditions are primed for a rally, which means that our focus can now shift to the company’s fundamentals, which tend to underpin the rallies that last for long periods and result in significant gains for investors. It is a perfect location for another rally to kick off based on technical analysis. Today, we find ourselves in a unique situation as WKHS stock is trading at the support level that triggered its February rally. Also read: The Best Electric Car Stocks To Buy.
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