![]() As Tesla is producing only a fraction of what its legacy automotive competition does, perhaps it is overvalued. It is essential to note that price is some 30% above levels that shares are currently changing hands, so there is room for more, at least according to Lewis.Ĥ) Tesla: Elon Musk's firm is undoubtedly the leader in the electric vehicle field, and it has now topped Toyota to become the biggest carmaker – in terms of market capitalization. That is boosting the stock price and also encouraging private investors to pile in.ģ) Bullish recommendation: Gregory Lewis, an analyst with BTIG, upgraded his target for NASDAQ: WKHS big-time – from $10 to $26, a whopping increase of 160%. Mutual funds and ETFs will now automatically invest in the firm due to their obligation. Workhorse Group newsġ) Workhorse secured $70 million in new financing: The Loveland, Ohio-based firm received the lump sum from an institutional investor and that will enable it to expand production and provide peace and calm for investors.Ģ) Russell 3000 inclusion: NASDAQ: WKHS has recently been included in the Russell 3000 index of small stocks. Why is the electric carmaker rising? There are five reasons. is set to extend its gains by another 8% to around $20.75. Premarket trading shows that Workhorse Group Inc. NASDAQ: WKHS has been on a winning streak, rising from below $3 in June to near $20 as July kicked off. ![]() ![]() Robinhood accounts owning the stock surged by 436% in June to 116,000.Elon Musk's Tesla has become the world's most valued carmaker, lifting all EV stocks.NASDAQ: WKHS received a bullish buy recommendation with a target price of $26.Inclusion in the Russell 3000 index increases flows from fund managers.Workhorse Group Inc has received $70 billion in financing.
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