Workhorse’s Wild Ride Continues
It’s been a rough ride for electric vehicle startup investors over the years. But it’s been especially tough for investors in Workhorse Group, with today’s earnings results failing to improve their situation. 👎
The company’s third-quarter revenues of $3.03 million were up 95.5% YoY but missed consensus expectations of $20.9 million by a wide margin. It also expects 2023 revenues to come in between $10 and $15 million, while Wall Street was looking for $63 million. 🔻