Jack Spencer's Dec 18, 2020 Video Recap

Workhorse Stock News! Ark Invest Buying Heavy - Insider Selling?

  •  A big Workhorse update from Jack Spencer.
  • Overall he is still very happy with what he sees. The company has a lot of potential and the stock is slowly becoming less volatile, which is a great sign. 

NASDAQ: WKHS - Workhorse Group Inc

Update & Overview

  • Maintains a long term holder.
  • Workhorse is a high risk high reward investment.
  • Pritchard Companies ordered 500 All-Electric delivery trucks.
    • Will buy vehicles more down the road.
  • Refrigeration vehicle prototype coming out soon.

Workhorse and the USPS Contract

  • Workhorse is still in the running of getting (a part of) the USPS electrical vehicle last mile contract.
    • Over the next three months the stock price will heavily move up- or downwards depending on whether they can secure the USPS contract.
  • In case the USPS contract is granted, the vehicles don’t have to be produced on short term.
    • Lordstown Motors offered production capacity in case Workhorse gets the USPS contract.

Price action

  • Unusual sideways trading pattern 4 hour candles 12/3 until 12/17.
    • End of June a lot of hype happened around WKHS. Nowadays a lot more people seem to buy into the company instead of ‘the ticker symbol’.
    • This seems to indicate that Workhorse is starting to trade like a normal stock.
  • Consolidation is happening around $21 – $22 dollars for a couple of weeks.
      • Shows that there is less swing trading activity and more traditional investing.
  • Institutional investors are buying millions worth of Workhorse shares
  • Current Recommendation Trends:
    • 0x Strong Buy
    • 5x Buy
    • 1x Hold
    • 0x Sell
    • 0x Strong Sell
  • The management team (Duane Hughes, Anthony Daly Furey, Harry DeMott, Steve Schrader and Stephen Fleming) sold a high quantity of shares.
    • Jack Spencer doesn’t like to see it but understands it.
    • The insider selling activity was pre-determined and it’s very normal for these type of executives to cash out a bit.

Problems

  • Workhorse made a mistake by sourcing its batteries from only one vendor.
    • The situation has been fixed now and the management team owned up to it. We will see what the impact was in Q4 2020.

Reviewing Jack Spencer Investments' Statements

We have picked Stock Moe’s most important statements and put them out for our factchecking team.

Most Predictions Are: Accurate

"Lordstown will have 50,000 pre-orders by end of 2020"

Status: confirmed

Jack Spencer Investing made this prediction on his video of 9/21/2020.

Accurate

"Tesla will 10x in December"

Status: ongoing

On his video on 12/9/2020 Jack Spencer stated that Tesla will 10x by end of 2021.

Ongoing

"Tesla will 10x in December"

Status: ongoing

On his video on 12/9/2020 Jack Spencer stated that Nio will 2x by end of 2021.

Ongoing

"Tesla will 10x in December"

Status: ongoing

On his video on 12/9/2020 Graham Stephan stated that Tesla will 10x in December.

Perfect prediction

"Tesla will 10x in December"

Status: ongoing

On his video on 12/9/2020 Graham Stephan stated that Tesla will 10x in December.

Mostly incorrect prediction

"Tesla will 10x in December"

Status: ongoing

On his video on 12/9/2020 Graham Stephan stated that Tesla will 10x in December.

Inconclusive

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