

The company has produced a total of 38 C-Series vehicles, it said in the earnings release. Workhorse released its first-quarter 2021 earnings last month and reported revenues of $521,000. As part of the agreement, the companies will work to expand Workhorse’s product portfolio and create new products. In May only, Workhorse announced an agreement with EAVX, a subsidiary of J.B. Tesla has also partnered with CATL and Panasonic for batteries. The battery is a key element of electric vehicles and can be the key differentiator between companies.

In May, Workhorse announced an agreement with Coulomb Solutions for CATL batteries. Meanwhile, the stock’s 14-day RSI (relative strength index) is 64.1 which is getting near the overbought territory. It would need to break above the 200-day SMA to signal an uptrend. However, the stock failed to breach the 200-day SMA which is currently at $20.03. It crossed above the 50-day SMA (simple moving average) which is a bullish indicator. Looking at Workhorse stock, it looks bullish on the charts. While the stocks targeted by the group tend to crash after the initial buzz, they invariably settle at a higher price than they traded before WallStreetBets traders started pumping them. The group has built its reputation by triggering short squeezes in many stocks. Workhorse stock gained momentum in June after it was picked by the Reddit group WallStreetBets. What’s the forecast for Workhorse stock in June 2021 and should you buy it now? Workhorse stock rose 3.1% on Friday and is now up over 65% for the month. The content on this page is for information purposes only.

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