Additional PR: “WorkHorse, USOG Will Launch Medical Drone Delivery Program”
Workhorse and their affiliate, Lordstown Motors, appear to be trying to piggy-back off of this Telsa’s Cybertruck event tonight. This company is notorious for conveniently timed PR that has a tendency to distort the narrative during a bad news event, like the announcement of an obscure partnership with a small drone company with only two employees on the same day that they announced entering into an agreement to sell their Surefly subsidiary for pennies on the dollar.
Recently, Workhorse again fell upon similarly miraculous and unexpected fortunes when Bloomberg News published a very misleading story claiming Lordstown Motors bought the Lordstown Complex, which coincidentally happened to be the day before WKHS disclosed in their 3rd quarter earnings report that they somehow managed to burn through more than half of the cash they received from a loan in late May, 2019, only 4 months prior to this report; and this was on virtually no sales revenue.
How that is possible we can only speculate, but as of now, all that we can ascertain from this strange price action is that if it has happened before, it will most likely happen again, and $WKHS has spoken loud and clear over the lifespan of this Trump and Dump: Buy The Dip
****DISCLAIMER****This is all my opinion, and I am not a financial adviser. You should consult a financial adviser before making any decision with regard to publicly traded securities. This company carries an extremely high degree of risk, and you should not use this information as the basis for an investment decision. . You should consider this information as similar to personal insight from a peer/friend/acquaintance, and thus it should — obviously — not be the primary source material for basing an investment decision, because similar to any opinion from a peer/friend/acquaintance, it could be completely and utterly incorrect! Good luck and happy trading everyone****