WKHS and Lordstown Motors deal and trade setup.
With DiamondPeak (DPHC) buying EV startup Lordstorm Motors the EV stocks are all hot.
Of special interest is WKHS investment in Lordstorm. Barrons exlpians:
"The transaction will raise about $675 million for Lordstown and values the company at about $1.6 billion. That makes a 10% stake held by the electric-van maker Workhorse (WKHS) worth about $160 million.
Existing shareholders—including Workhorse—will own about 50% of the company post merger. Workhorse wasn’t immediately available to comment on the deal impact to ownership. General Motors (GM) is also investing $75 million in the company as part of the deal."
Technically, WKHS chart looks great! Holding the 20ma and breaking above resistance on strong volume.
Earning next week. Will cove half of position before earnings and move stop to break even.
Of special interest is WKHS investment in Lordstorm. Barrons exlpians:
"The transaction will raise about $675 million for Lordstown and values the company at about $1.6 billion. That makes a 10% stake held by the electric-van maker Workhorse (WKHS) worth about $160 million.
Existing shareholders—including Workhorse—will own about 50% of the company post merger. Workhorse wasn’t immediately available to comment on the deal impact to ownership. General Motors (GM) is also investing $75 million in the company as part of the deal."
Technically, WKHS chart looks great! Holding the 20ma and breaking above resistance on strong volume.
Earning next week. Will cove half of position before earnings and move stop to break even.
small loser