Stock Rise Electrifies Demand

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.

Disclosure: The analysis in this article is provided for information only and is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the ...

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