WKHS - Why Shares of Workhorse Group and Tortoise Acquisition Popped on Monday
One of the hottest segments on the stock market now is electric vehicles (EVs). This week got off to a roaring start for two stock connected to them -- Workhorse Group (NASDAQ: WKHS) and Tortoise Acquisition (NYSE: SHLL), which accelerated almost 47% and 30% higher, respectively, on Monday.
Workhorse, which specializes in electric delivery vans and drones, got a big shot of legitimacy on Monday when it was added to the Russell 3000 Index. Although being included on a storied equities index doesn't change the nature of a company's business, it confers legitimacy and makes a stock a candidate for some of the many index funds popular with investors these days.
Image source: Workhorse Group.