Short video showcasing the though process behind Friday’s (2/23/2018) short sale of Workhorse Group Inc. (WKHS) after a technical breakdown.
Workhorse Group Inc. (WKHS) stock popped Friday after a press release detailing their new partnership with UPS. However, on closer inspection, it was simply a test order for 50 electric semi trucks to be used this year. Although good news, there will still be a significant amount of time before they approve a true widespread order, and before that potential order is reflected on the balance sheet. Because of this dramatic overexcitement, I shorted the technical break once the initial momentum dried up, which resulted in a $650 profit.