Dauch has brought on a number of new executives, which hopefully provides a much-needed infusion of talent for a company whose execution has been abysmal since the pivot to EVs back in 2013. Workhorse hired a new Chief Executive Officer, Rick Dauch, with a long and successful track record in the automotive industry. If there's any good news from the year, it's that the company has to at least some degree reset. Combined with a broader swoon in electric vehicles over the end of the year, the 78% decline in WKHS stock in 2021 isn't all that surprising. ![]() Securities and Exchange Commission as well. Workhorse has confirmed that it's the target of an investigation by the U.S. Political posturing around the selection provided some hope, and Workhorse filed a lawsuit challenging the decision, but in September Workhorse threw in the towel.Ī week later, the company suspended production of its C-1000 model, while also recalling 41 vehicles that already had been delivered. Most notably, in February Workhorse lost out on a major contract for the United States Postal Service, with USPS going with Oshkosh ( OSK) instead. Simply put, 2021 was a disaster for Workhorse. There is a path toward long-awaited success here, even if that path at the moment looks a bit too narrow. 2022 will be a pivotal year, and new management gives the company at least a chance to spend this year changing its reputation with customers and investors. Yes, WKHS stock is cheaper - but given its positioning, that declining stock price itself creates problems going forward.Īll that said, it is still too early to write Workhorse off entirely. The balance sheet has real concerns, and competition is stiff and getting stiffer.Īnd even at the lows, I'd personally back that bearish take. Its flagship vehicle has been pulled from production. ![]() This, after all, is a company that has made multiple missteps since it pivoted to the commercial electric vehicle market back in 2013. And yet, even with that decline, it's still easier to make the bear case for WKHS than a bullish argument. Shares have fallen 80% since the beginning of 2021. ( NASDAQ: WKHS) stock closed Friday below $4, at its lowest level in more than 18 months. We talked about our move cross country, tornadoes and a series of unfortunate events in New Mexico, as well as what became of our once upscale neighborhood in North Hollywood, California.Īnd we ran out of time – sorry Michael, no time to discuss “One Piece”. ![]() I keep making some spare cash at TESLACHICK WATERLESS CAR WASH – and have learned a lot about using a side business to make extra cash while expensing what is legal with the IRS. He also made a little money designing and posting a small online game on steam-CAT CLICKER. Michael does a deep dive on online poker using his game theory background. I bought some indexes after a call in TQQQ went South, putting a little money in a Roth IRA. Michael decided to quit and try online poker. We are dipping our toes into trading again after a year off – and losing money due to two years of Los Angeles being shut down (and other things) – not going to discuss politics. Current Events - How to - Trading Psychology – Or maybe just whatever…
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