tradir

WKHS Long (trade in play)

Long
NASDAQ:WKHS   WORKHORSE GROUP INC
A strong breakout has finally happened. A pattern something like this will be ideal. I've been watching WKHS since $13 and the company might finally be turning some profits soon.

Some reasons for a rally.

1.) They received an order for 6300 vehicles. (January 4th 2021 -> http://minify.link/6lw)
2.) Big EV names ( NIO , TSLA , PLUG etc.) have made insane moves while WKHS has been standing.
3.) Earnings is coming up (March , and with the big orders there might be a big run up with expectations of positive earnings .
4.) The open short float on January 26, 2021 was 30.99%. That is massive and if price action starts to pan out there might be a short squeeze (kind of like a sympathy play for GME , just on a way smaller scale).

I am just a small retail trader, but the idea is for the EV and Short squeeze hype to transfer to WKHS . I am willing to risk some good money on this trade, and I am not responsible for anyone elses trades.

Please criticize this play! Pick it apart, I wanna know why you think it's bad! We can all learn.

Related Ideas

Comments

I'm holding but it feels like a short-term win with what's going on with GME. No telling what will happen once GME actually does correct.
+1 Reply
tradir InsideCrypto
@InsideCrypto, I don't think WKHS is mounted on GME movements. Especially since WKHS doesn't have much hype yet and the fundamentals are there. But time will tell, it'll be interesting to see the overall markets reaction to an inevitable nasty GME dump.

Also, there is great demand for WKHS around 28-30 which gives a great RR. Only time will tell!
Reply
coinYoni InsideCrypto
@InsideCrypto, I understand where you are coming from, but you are simply wrong. WKHS isn't even one of the top 5 WSB meme stocks, maybe not even on the list at all.
WSB meme stocks are: GME, BB, AMC, NOK, PLTR, and just two or three others. Anything besides those mentioned on the subreddit doesn't get any attention. Clearly, GME is going to pop, and all the greedy fckers are all going to be searching for the next greedy investment to make. When they catch wind of the $6bln contract on the table with WKHS it is more like they take their GME Profits (or what they have left over from a loss) and throw it on other stocks including WKHS. I would really counter point you and say that GME has been sucking up all of the Money and taking away from WKHS.

Additionally, WKHS is really the runner up for the Post office deal, it is between them and a hybrid car - but biden said they are buying an electric fleet, not a hybrid fleet. I think that WKHS is a STRONG buy and that it should really be heading to the lower 70's by the end of feb.
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