Why Workhorse Stock Is Rising

Workhorse Group Inc. WKHS the shares are trading up 6.97% at $2.22 ahead of the close of trading on Friday. Shares of vehicle stocks linked to electric and clean energy vehicles are trading higher following a rumor suggesting that the Public Investment Fund is preparing to buy the rest of Lucide Group Inc.. The sector is also up following strong earnings from Tesla Inc. this week.

On Friday, our Benzinga team reached out to Public Investment Fund and Lucid Group to comment on the rumours. A Lucid Group spokesperson told Benzinga on Friday that the automaker does not comment on rumors or speculation.

See also: Why Tesla Stock Jumps Today

Tesla Earnings Highlights, Recap

Tesla reported total vehicle production in the fourth quarter of 439,701, up about 44% year-over-year. Fourth quarter shipments were 405,278, up 31% year-over-year.

Tesla reported fourth-quarter revenue of $24.32 billion, up 37% year-over-year. Total revenue topped a Street estimate of $24.16 billion, according to data from Benzinga Pro.

Tesla reported fourth-quarter adjusted earnings per share of $1.19, which beat a Street estimate of $1.13.

The company said the fourth quarter marked the highest revenue, operating profit and net profit in the company’s history…Read more

WKHS has a 52-week high of $5.39 and a 52-week low of $1.40.

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