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Usps workhorse5/20/2023 ![]() Some investors are taking the opportunity to buy this dip as Workhorse has already rebounded by over 4% in Wednesday’s after-hours trading. There are lingering concerns about Workhorse's ability to scale up to a large order though as even without the USPS contract, the Ohio-based firm has reported there could be issues delivering on the 300-400 vehicles it promised, by the end of this year. The odds are just as high though that this could be delayed once again as a shakeup in the White House and much of the American government could have an impact on the federal agency. While investors soured on Workhorse and Lordstown, it should be noted that this could just be a delay of a month or two until a decision by USPS is made. Investors are optimistic that if Workhorse is able to secure some of the USPS contracts, it would call upon Lordstown for support. ![]() Workhorse subsidiary Lordstown Motors (NASDAQ:RIDE) also felt the sting of its association with Workhorse as it also fell by nearly 6% on Wednesday. The stock tumbled 19% between the closing bells on Tuesday and Wednesday, to close the most recent trading session at $20.43. NASDAQ:WKHS furthered its slide that began after hours on Tuesday when the USPS decided to delay its decision on refreshing its new delivery truck fleet. The selloff could be an overreaction as the stock rebounds after hours on Wednesday.The delay in the USPS delivery truck contract has sent investors packing for other electric vehicle plays.NASDAQ:WKHS continues its slide from Tuesday after hours into Wednesday’s trading session.
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