Workhorse Group, Inc. (WKHS) shares are experiencing a significant jump in price today following the company’s announcement that it will be participating in the FedEx Service Provider Summit in early October. The event, scheduled for October 1-4, 2024 in Orlando, Florida, will serve as a platform for Workhorse to showcase its W56 electric vehicle.
Workhorse’s presence at the summit takes on a significant role as they will be designated as the ‘Presidential Exhibitor.’ The W56 vehicle will be prominently featured in the event’s ‘Ride & Drive’ experience, providing attendees with an opportunity to get behind the wheel and experience the vehicle firsthand.
Ryan Gaul, President of Commercial Vehicles at Workhorse, emphasizes the company’s understanding of the demanding nature of parcel delivery. He states, “At Workhorse, we know the demands of parcel delivery inside and out. Our trucks are built with the reliability, driver safety, and comfort that last-mile routes require.” He further highlights Workhorse’s commitment to uptime and customer success, ensuring that their fleets operate at peak efficiency through top-tier quality and post-sales service and support.
The news of Workhorse’s participation in the FedEx Summit comes on the heels of another positive development: FedEx placed a purchase order for 15 W56 step vans with Workhorse earlier this week. This order aligns with FedEx’s ambitious goal of achieving global carbon neutrality by 2040.
The company’s recent success and its growing partnership with FedEx have sparked interest in Workhorse stock. If you’re looking to invest in WKHS shares, the process typically involves setting up a brokerage account. Many brokerage platforms offer the option of purchasing ‘fractional shares,’ allowing investors to own a portion of a share without having to buy the entire share. This is particularly beneficial for high-priced stocks, enabling investors with limited capital to still participate.
For those interested in shorting Workhorse stock, the process is more involved and requires access to an options trading platform or a broker who allows for short selling. Short selling involves borrowing shares to sell with the expectation of buying them back later at a lower price.
Workhorse stock is currently trading at $0.68, and at the time of writing, it has seen a significant increase of 10.2%. The company’s participation in the FedEx Summit and its recent order from FedEx are strong indicators of its growing presence in the electric vehicle market, positioning it as a potential player in the future of delivery transportation.
