Shares of electric-truck maker Workhorse Group (NASDAQ: WKHS) , long considered a leader in the race to win a $6 billion-plus government contract to begin building up to 180,000 new USPS mail delivery trucks later this year, got pummeled yesterday .
In a surprise announcement, USPS said that for the second time in as many months, it will delay awarding its long-awaited contract, and now probably won't announce a winner before Q1 2021. Workhorse shares reacted as you'd expect them to, falling 19% by the closing bell -- but today they've turned around and are up 9.5% as of 12:50 p.m. EST.
Image source: Workhorse Group.
For further details see:
Why Workhorse Group Stock Is Bouncing Back Today