It’s the last day of January, and 2021 has been quite the ride already. Today, I’d like to slow things down a bit and give you guys a recap of a trade in my Monthly Money Flows service and answer the question, “Is Workhorse a good investment?”
With all of the GameStop craziness this past week, it would be nice to end the month on a good note. Workhorse could be the chance to do that.
This trade popped up on my radar at the beginning of the month following the Georgia Senate runoff. With the Democrats in full control, electric vehicles and clean energy are two of the top sectors to keep your eye on.
Companies like Tesla Inc. (Nasdaq: TSLA) have already made a mark. It is one of the biggest clean energy companies in the world. But what about smaller stocks that could see a jump as a result of the political shift? Are stocks like Workhorse a good investment even though they’re just getting started?
Workhorse Group Inc. (Nasdaq: WKHS) is an upstart American company that manufactures electric delivery vehicles.
In December, Workhorse was in the running for a $6.3 billion contract to provide the U.S. Postal Service with a new fleet of trucks. This would have sent the stock soaring. The USPS, however, has not made a decision and likely won’t until the second quarter of this year.
That’s not a great sign for its shares…
But all is not lost now that the Democrats are in power.
President Joe Biden has said he plans to replace the entire government fleet of trucks with electric vehicles…
And he wants them to be from a U.S.-based company — like Workhorse.
So is Workhorse a good investment? Let’s take a look at the charts and find out in this trade recap.
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