Workhorse contract with ups date

All rights reserved. Charles St, Baltimore, MD The decision is now expected in the second fiscal quarter of It will purchase aboutvehicles will be purchased over five to seven years. As you can imagine, if Workhorse gets the contract outright or gets a portion of the contract with another company, WKHS stock will quadruple.

However, the delay highlights the risk associated with investing in Workhorse. I want to take a position closer to the contract announcement. It has been an extraordinary year for electric car start-ups. The stock frenzy shows no signs of slowing down. I expect some of that to rub on WKHS stock as well. Also, any positive or negative news on the USPS contract can tilt the scales one way or another.

That makes the stock a bit of a gamble, in my opinion. According to Kim Frum, a spokesperson for the Postal Service, the decision is due to the novel coronavirus pandemic.

While that is understandable, I believe politics also has a role to play.

Ark Invest Just Sold $10 Million Of Workhorse Stock!

A few months back, several analysts felt the contract would go to Ohio-headquartered Workhorse. At the time, many believed that since Ohio is a swing state, the Trump administration will award the contract to the company as an election sweetener. My colleague Josh Enomoto also brings up an excellent point. Although the Democratic ticket won on a clean energy ticket, domestic politics is seldom a zero-sum game.

The energy lobby is one of the largest and most powerful in Washington, D. As Josh says, these companies employ a lot of people, leading to significant political capital. None of them will like an all-electric solution, which is the one offered by Workhorse, as the preferred choice for the USPS contract. Although I remain bullish on WKHS, this is an important point to keep in your mind before you decide to invest. Lafferty analyst Jaime Perez, who is bullish on the electric truck startup.

workhorse contract with ups date

Roth Capital analyst Craig Irwin believes the company is well-positioned with its all-electric offering. Savings on commercial vehicles accumulate faster than passenger vehicles, making the all-electric option attractive. Commercial vehicles are also easier to maintain, and they can be charged centrally at company-owned facilities. Plus, Democrats have won the White House on a green agenda.

Giving the nod to Workhorse, therefore, makes sense.All rights reserved.

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Charles St, Baltimore, MD Many times, it ends up being a rambling mess of personal attacks and excretory contests, to put it politely. Postal Service USPS will take additional time to decide which finalist or finalists will take home its postal-delivery-truck contract. Naturally, WKHS stock tumbled on the news. That would lend a measure of credibility to the lesser-known firms that are still in the running. Second, and more importantly, many experts considered Workhorse as the organization with the highest probability of taking the win.

On the surface, this assessment makes perfect sense. According to FoxBusiness.

workhorse contract with ups date

Rather, the science also supports WKHS stock. And what are we supposed to do in ? Given that the vast majority of LLVs drive under 40 miles a day in city conditions rife with last-mile problems, EVs have the massive advantage of regenerative braking.

Long story short, the constant stop-go commuting of city driving that is the bane of combustion vehicles translates to usable kinetic energy for EVs. However, the technology has failed to deliver in the past.

From my purely anecdotal observation, most people well, pretty much everyone, save for a few bears believe that Workhorse has the USPS contract in the bag.

workhorse contract with ups date

Theoretically, this makes WKHS stock a resounding buy. Though this combustion candidate can run a diesel engine yuck! This is huge because aside from environmental concerns, predictability from a proven track record carries a premium.

However, it seems like the blogosphere is forgetting that Turkish automotive firm Karsan is also one of the finalists. Or maybe U. Further, hybrid has advantages in that it offers lower emissions than combustion engines, while mitigating energy disruptions.

For instance, if the grid goes down — a totally not unreasonable circumstance — the USPS can keep on running. That has got to appeal to the decision makers.

You know this is a possibility from your own experiences. How many times have you witnessed more-than-qualified workers get passed up for promotion? Though hardly guaranteed, a similar thing could happen here.

Workhorse CFO Talks USPS Contract, Says Company Has 2-Year Lead On Competitors

Because another factor to consider is domestic politics. But big oil remains a powerful lobby. Because guess what? The oil industry hires people too.

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This is something to take a modest shot at, but keep the powder keg dry. Very dry. Workhorse is not guaranteed to win the USPS contract. A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global companies.

Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. Log in. Log out. About Us Our Analysts. Sponsored by. Source: Photo from WorkHorse.All rights reserved. Charles St, Baltimore, MD A new report by a short-selling firm includes damaging information about Workhorse.

Moreover, the shares are likely to be hurt in the short- and medium-term by the delay of an important U. Post Office contract. On Oct. Finally, the short seller quotes unnamed Workhorse employees as saying that the automaker is not working on filling any purchase orders. The Post Office was originally supposed to declare the winner or winners of the bidding process that day.

Now that the contract will not be awarded until after the election, that theory is obviously no longer valid. On the date of publication, Larry Ramer did not have either directly or indirectly any positions in the securities mentioned in this article. Larry has conducted research and written articles on U. Among his highly successful contrarian picks have been solar stocks, Roku, and Snap.

You can reach him on StockTwits at larryramer. Larry began writing columns for InvestorPlace in Log in.

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Log out. About Us Our Analysts. Sponsored by. Source: Photo from WorkHorse. Sponsored Headlines. More from InvestorPlace. Subscriber Sign in Username. Sign in. Having trouble logging in?By creating an account, you agree to the Terms of Service and acknowledge our Privacy Policy. Postal Service contract for its next-generation mail trucks. Workhorse is one of four remaining participants bidding for the contract.

workhorse contract with ups date

Right now they get five to six miles per gallon. Watch to the full interview with Steve Schrader in the clip below, or listen to the podcast here. Workhorse recently ran a demonstration of its autonomous touchless delivery in Virginia. Schrader said any company that wants to launch a true drone delivery service that would rival a truck would need FAA certifications. In a best-case scenario, Schrader said Workhorse has a massive opportunity in the next two years with both vans and drones. Benzinga does not provide investment advice.

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Market in 5 Minutes.Here is what is going on and why you should pay attention on your portfolio. Entire EV sector was on the run for the past 10 days.

Workhorse Will Continue to Live and Die by the USPS Contract

Shareholders feel like they are missing out on other opportunities while their money is trapped in Workhorse stock.

Except for the people that are in love with WKHS stock.

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While getting USPS deal would be a great thing for both company and stockholders, in my eyes it is not such a big thing if WKHS ends up without this contract. Here is why. If we divideby 7 that would be around 25, vehicles per year. It is not doable. This is basically a science fiction. Previously Workhorse said how they got a vehicles order from Pritchard Auto Company, but failed to acknowledge how they delivered only 5 vehicles in Q2. Five vehicles for the entire quarter? Workhorse claimed that, prior to an outbreak of the novel coronavirus among its employees and other unexpected hurdles, it anticipated delivering to vehicles last quarter.

Still, the bottom line is that the company only delivered seven vehicles in Q3 and said that it will be able to deliver the other to trucks previously targeted only in So, instead going for the jugular, they are still wasting their time and money on God knows what. But here is the thing, I am also wasting my time talking about deliveries when there might be another, bigger, problem for Workhorse going forward.

But there is more to this. So, these are all pretty much the same people. Remember walgreens and Theranos Wellness Centers? Do you really believe that USPS would sign an agreement with such a troubled company? And who is Karma Automotive? Karma Automotive is an American company producing luxury EVs.

Karma is created from the assets of Fisker Automotive after its failure. Monday morning could be another selloff for WKHS because there is really no big catalyst in the near future. The USPS mail trucks would be made on the unused automated production lines and robotics in the Lordstown plant which have the capability of producting k vehicles per year that are currently just sitting there collecting dust waiting for the mail truck contract.

The workhorse mail truck IS the lordstown Endurance pickup with a different body and interior on the exact same chassis. As a person who has filled this stock closely, your research and stated facts are absurd. You have absolutely no idea of what your talking about. Ford transit van. This is a 6 year old RFP 2 companies are up for winning the contract. Ford is not even in the running as it was not selected to build a prototype.Today is the day limit that USPS stated a decision would be made in from the July 14 date when companies were required to submit request for proposal responses, according to a company update from Roth.

Workhorse has a minority 10 percent stake in Lordstown Motors, which will use Workhorse technology to produce the Endurance.

The report alleges, according to Bloomberg, the USPS truck prototypes were problematic and were greater than cost guidelines.

Fuzzy Panda also claims a postal driver was hurt when a parking brake in one of the prototypes failed, according to Bloomberg.

An email seeking comment was sent to Gateway Investor Relations, the firm that handles Workhorse investor relations. On Oct. Closing the merger is the final step toward Lordstown Motors being a publicly traded company. The companies announced the proposed business combination in October.

The new company will remain named Lordstown Motors Corp. Property transfers recorded Dec. Chappell to EAS Management of the The Ohio Department of Health reported more than 4, new coronavirus cases and 31 new deaths statewide Canfield police Chief Chuck Colucci said homeowners in I'm interested in please check all that apply Daily Newsletter Breaking News.All rights reserved. Charles St, Baltimore, MD Until Of course, the meteoric rally in WKHS stock has attracted the attention of multiple bears, pundits and critics.

Many notable short-sellers out there — like Hindenburg Research and Fuzzy Panda Research — see Workhorse as a wildly overhyped EV company, built on all hype and no substance, with a hyperextended valuation.

But the weight of evidence and data today suggests that the bear thesis will ultimately prove wrong here. Consumers want more electric cars. Businesses are committing to and doubling down on sustainability targets. Countries are implementing and sticking to legislature to decarbonize transportation. And, perhaps most importantly, the technology and economics underlying electric vehicles has improved to a point where they are a viable and economically sensible alternative to gas-powered autos.

Two, the electric disruption of the delivery van market represents an exceptionally compelling investment opportunity. Overlast-mile delivery vans are purchased every year by U.

Thus, over the next decade, the number of electric delivery vans in the world will grow by leaps and bounds, creating an multi-billion-dollar U. Three, Workhorse has emerged as a clear leader in the electric delivery van space. It has, to-date, been perceived as the best play on the electric delivery van megatrend. Over the past few months, some red flags have started to emerge with respect to the ostensibly compelling Workhorse growth narrative, and those red flags have, in sum, resulted in material weakness in WKHS stock.

That contract — dubbed Next Generation Delivery Vehicles, or NGDV for short — is widely considered the biggest and most valuable contract in the electric delivery market. Broadly, whoever wins that contract will likely turn into the runaway leader in the burgeoning electric delivery space.

But, of course, it seems entirely likely that Workhorse blunders contributed to this delay. And reasonably so.

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Without the USPS contract, Workhorse loses a lot of that visibility and potentially cedes market leadership to a competitor. In the former situation, WKHS stock soars over the next few years as electric delivery vans become the industry norm. In the latter situation, WKHS stock pitter patters until the next big catalyst. The weight of evidence and data today continues to suggest that — despite the delay — Workhorse will still win the USPS contract.

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