As the mania surrounding electric vehicles and drone technology takes hold of the markets, Workhorse (NASDAQ:WKHS) has garnered more attention. This is reflected in the increased trading volume in WKHS stock as well as the buzz on financial discussion boards.
There is a lot to unpack when it comes to Workhorse. You could argue that the company is both highly specialized and diverse at the same time.
Investors can wager on this company’s growth as it is connected to a number of fascinating markets. These include last-mile delivery, all-electric vans, drones and even telematics. In other words, it helps track the performance of a fleet of vehicles.
So, what kind of investor should consider owning WKHS stock? Perhaps you can visualize the expansion and development of any or all of the aforementioned sectors.
If so, then Workhorse might be right up your alley.
WKHS Stock at a Glance
While it has not always been a hot topic, WKHS stock has actually been in existence for years. Unfortunately for shareholders, the WKHS share price hardly made any progress from 2010 until June of this year.
Indeed, WKHS was classified as a penny stock because it traded under the $5 level. Moreover, the onset of the novel coronavirus put further pressure on WKHS early in 2020.
Then came the first breakout moment in June and July. That is when WKHS stock rocketed from around $3 to the $21 area. A few months of consolidation followed this amazing price movement.
The second big surge came in September as the WKHS stock price spiked above the $30 level. Since the stock reached all-time highs, it was clear that the bulls had firmly taken control.
Going the Extra Mile
With the coronavirus causing an increase in e-commerce and package delivery activity, last-mile delivery has come into focus. One of the most appealing features of Workhorse as a company is its aggressive foray into ultra-efficient electric vans for package delivery.
Workhorse’s all-electric C1000 van model was given that name because of its 1,000 cubic feet of capacity. This next-generation van boasts a 100-mile range, and the company declares that the C1000 is “more economical than traditional delivery vans.”
The C1000 is still comparatively new, but if it turns out to be as good as Workhorse’s previous delivery vans, the E-100 and E-GEN, then it should be a resounding success. Those two earlier vans have traveled over 8.5 million miles. Some of the largest package delivery companies in the world embrace them.
When Vans Aren’t Enough
Sometimes delivery fulfillment requires more than a van. In those instances, drone technology can come to the rescue. Workhorse is ahead of the curve in this regard as the company has already developed an autonomous four-rotor drone called the Horsefly.
As Workhorse CEO Steve Schrader explains, the Horsefly can make last-mile delivery much more cost-effective. “It’s like another delivery man. The [drone] is 4 cents [per package],” Schrader asserts.
It is certainly possible that at some point in the future, package delivery will look different. Instead of vans running on scarce and costly fossil fuels, they could run on electricity.
And the driver might not even need to exit the vehicle. A next-generation drone like the Horsefly could quickly get packages to doorsteps.
With the C1000 and the Horsefly, there is the promise of more efficient solutions for last-mile package delivery. The time to wager on WKHS stock is now. Position yourself for the futuristic world of e-commerce order fulfillment.
On the date of publication, neither Louis Navellier nor the InvestorPlace Research Staff member primarily responsible for this article held (either directly or indirectly) any positions in the securities mentioned in this article.
Louis Navellier had an unconventional start, as a grad student who accidentally built a market-beating stock system — with returns rivaling even Warren Buffett. In his latest feat, Louis discovered the “Master Key” to profiting from the biggest tech revolution of this (or any) generation.