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Blitz Daily: The Workhorse Short Report Is Bad News for Small EV Stocks

by | Sep 1, 2021 | Uncategorized

In Wednesday’s Blitz Daily, we’ll take a look at electric vehicle company Workhorse after news broke regarding an open SEC investigation.

It’s been a long day for anyone still holding onto shares of Workhorse Group Inc. (Nasdaq: WKHS). A new short report hit the headlines Wednesday, detailing how the board of directors failed to disclose an “Active and Ongoing Investigation by the SEC’s Division of Enforcement” for potential fraud.

The stock sank more than 9% following the release as bears descended on WKHS and other fringe EV firms. Specifically, traders took aim at the weekly put options, with more than 14,000 contracts traded in the Sept. 3 expiration $9.50 strike puts.

And that wasn’t the only name hitting the tape Wednesday… put your eyes on these two trades and see for yourself…

Today’s Top Orders:

  • Petco Health and Wellness Co. Inc. (Nasdaq: WOOF): Sept. 10 $22.50 CALL.

  • Albertsons Companies Inc. (NYSE: ACI): Sept. 17 $31 CALL.

  • Workhorse Group Inc. (Nasdaq: WKHS): Sept. 3 $10 PUT.

Check out my short video and I’ll break down today’s most unusual options order flow in no time flat… 

And if you want to get in on these orders as they hit my Blitz Tracker in real time — and even more actionable trade ideas — be sure to join us in our Daily Profits Challenge War Room!  

Blitz Daily With Lance Ippolitto

At Weekly Blitz Alerts, we like to print money, baby! I know, I know, you’re probably thinking, “Lance, how do we do that? Print money? Come on…”  

But in all seriousness, we follow the big fish and what they’re buying. And we do that with my proprietary Blitz Scanner, which alerts me to big, institutional options order flow throughout the day. Then we get in on these plays and follow the “smart money.”  

By doing this, we cash in whether the broader market is going up, down or sideways. 

The Blitz Daily with Lance Ippolito is where I go over a handful of options trades that hit my Blitz Scanner each day, Monday through Thursday. I will break down the trade with the sexiest order flow and tell you exactly what’s going to happen with that stock by the next day’s opening bell. 

If you want in on these explosive options plays, with entry, exit and profit targets sent directly to you via text and email alerts, be sure to sign up for Weekly Blitz Alerts!  

In the meantime, you can follow me @LanceIppolito on Twitter, Instagram and our YouTube channel for more trading insights and tips. And as always, you can find me right here talking stocks and options trading — and printing money — on WealthPress.com!

WRITTEN BY<br>Lance Ippolito

Lance Ippolito

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