What's Going On With Workhorse Group Stock Thursday?

Author: Dylan Berman | July 18, 2024 01:54pm

Workhorse Group Inc. (NASDAQ:WKHS) announced that McAbee Trucking Inc. has acquired a W4 CC box truck.

The Details: The truck will become apart of McAbee Trucking’s fleet that handles certain Star Carrier Mail Contractor Routes for the United States Postal Service.

The Workhorse electric truck is equipped to perform a 120-mile daily round trip mail route between Blacksburg, South Carolina, and Shelby, North Carolina.

“The National Star Route Mail Contractors Association is committed to supporting the adoption of alternative fuels, including battery-electric solutions like McAbee Trucking’s Workhorse truck,” said Greg Reed, executive director of the National Star Route Mail Contractors Association.

“This step is in line with the Postal Service’s commitment to reducing harmful emissions by transitioning to alternative fuel trucking fleets.”

Workhorse stock is up 16.28% over the last week. The rally kicked off on Tuesday after Workhorse was awarded a contract for zero-emission commercial vehicles.

How To Buy Workhorse Group Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Workhorse Gr (NASDAQ:WKHS)'s case, it is in the Consumer Discretionary sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

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WKHS Price Action: At the time of writing, Workhorse shares trading 9.54% lower at $1.89 per data from Benzinga Pro.

Image: Photo from Shuttershock.

Posted In: WKHS