An Example of Exuberance

This market is crazy.  Here's an example.

Workhorse (WKHS) was $2.63 on June 1, 2020.   Today it hit $20.00 before pulling back.   All on rumors of the USPS closing bids for the next generation mail truck on July 14.   Workhouse is one of three remaining bidders and the only all electric design.

Currently, Workhorse loses money on every vehicle it sells, based on sales to UPS.   There are several larger companies now competing in the same area.    However, Workhorse is riding the same wave as other EV companies, such as Nio and Nikola.

I've been selling into this rally.   My last sale was at $15.15.  Unbelievable.  I've owned shares since 2014 at much lower prices.   I expected to lose my entire investment eventually.  Not complaining and enjoying the ride.  But fully expect the price will come back to reality soon.

Full Disclosure:   We own shares of WKHS.

For more on Ideas You Can Use, check back Tuesdays  for a new segment.

This is not financial nor investment advice. Please consult a professional advisor.

Copyright © 2020 Achievement Catalyst, LLC