Stock Rise Electrifies Demand

Traders' Insight • May 26, 2017 at 2:23 PM EDT

Workhorse Group offers products and services for conversion of normal vehicles to run on electricity and has a market cap of $120M.

Workhorse Group (Nasdaq: WKHS) offers products and services for conversion of normal vehicles to run on electricity and has a market cap of $120M. On May 3rd the company unveiled a new electric truck. The share price spiked on May 5th, rising 22%. The name is hard-to-borrow, with a fee of 88%, up from single digits in April. Utilization has increased from 79% to 96% in the past month.Interestingly, we are seeing shares from desks at large banks, but not from retail brokers. Short Interest at 13% of the float is the highest it has been since the company’s IPO.

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