Lordstown Motors, partially owned by Workhorse (NASDAQ:WKHS) was mentioned last night during 13th District Congressional debate.
With that being said lets go directly to the statement that caused so many waves early Tuesday.
The only thing you (talking to Republican opponent) in your 8 years, while you were a state rep, the only thing that you brought back to your district was your paycheck. I brought back 100s of millions of dollars. You wanna talk about airbase, $30 millions I brought to that base….We now have a GM LG facility, 11K jobs, $2.3 billion investment, Lordstown motors, the Endurance, on the cusp of getting, dominating the EV market, and getting the USPS contract which would mean $800 million…U.S. Rep. Tim Ryan
While this information may push the WKHS stock up during pre-market session, this actually means nothing at this point. But the road to the White house leads through Ohio. And Mr. Trump could get a boost in North East Ohio should Lordstown Motors fortunes continue to improve.
It’s been leaked $WKHS has gotten some of the USPS contract. Question is how much is it all of the contract or half?— Michael Lugo (@BatMann79) October 13, 2020
Should the USPS contract go to WKHS Group, which owns a 10% stake in Lordstown Motors, Donald Trump could get the boost in this county.
While this is a huge catalyst that can push WKHS stock to all time high, have in mind that this is currently THE ONLY catalyst of this magnitude and Workhorse shares could easily tumble down in biggest-ever EV decline in case of no-contract.