WKHS Stock: Redditors Are Still Squeezing Workhorse Despite USPS Miss

Workhorse (NASDAQ:WKHS) stock continues to be a favorite with Reddit traders despite its recent miss with the United States Postal Service (USPS).

Image of a Workhorse (WKHS) logo and drone on the side of a truck.

Source: Photo from WorkHorse.com

Workhorse, a maker of electric vehicles (EVs) for delivery services, is still be targeted by Redditors looking to short squeeze hedge funds out of the company. This has it getting lots of chatter over on r/WallStreetBets.

As of this writing, close to 400 mentions of the stock were made on the subreddit. The increasing interest comes after one user published a long due diligence post covering the stock and the benefits of traders buying and holding its shares.

It isn’t just Reddit that thinks WKHS stock is ready for a short squeeze. Will Meade, a former hedge fund manager turned Twitter (NYSE:TWTR) influencer, also thinks the stock is ready for a squeeze. He said as much to his roughly 200,000 followers in a recent Tweet.

WKHS stock took a beating back in February when it was revealed it wouldn’t get a deal to supply the USPS with EVs. However, interest in the company has continued to climb and the stock has been recovering along with it.

The extra eyes on WKHS stock today mean it’s also seeing above-average trading volume. As of this writing, more than 32 million shares of the stock have changed hands. To put that in perspective, the company’s daily average trading volume is closer to 18.3 million shares.

WKHS stock was up 8.9% as of noon Monday but is down 20.8% since the start of the year.

Workhorse isn’t the only company that is being looked at for a short squeeze. Several others, such as Carver Bancorp (NASDAQ:CARV), Clover Health Investments (NASDAQ:CLOV), and others, have also been singled out. You can learn all about that news and more by following the links below!

More Monday Stock Market News

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

 


Article printed from InvestorPlace Media, https://investorplace.com/2021/06/wkhs-stock-redditors-are-still-squeezing-workhorse-despite-usps-miss/.

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