Shares of electric vehicle company Workhouse Group (WKHS) – Get Report soared Monday, after President Trump made a positive remark about an electric truck of Lordstown Motors, in which Workhorse has a 10% stake.
Trump commented at the White House about Lordstown’s Endurance truck. “We’ve been working on this very long and very hard,” he said, according to Cleveland.com.
“This is a really unique thing because the four wheels are — hub motor, hub motor — this is the only one that does this in the world. It has a lot of advantages.” Trump said the truck’s all-electric four-wheel-drive system is an “incredible concept,” Bloomberg reports.
Workhorse recently ended up $3.32, or 13%, at $28.13. Shares have skyrocketed more than 800% so far this year amid investor enthusiasm for electric vehicle companies.
“In the first half of this year we accomplished a series of major operational and