By Christiana Sciaudone
- Workhorse Group Inc. is back up after getting a boost out of California.
Shares rose more than 8% after its C-Series electric delivery trucks received executive order: A-445-0003 from the California Air Resources Board, which designates the vehicles as zero-emission vehicles in the state. The order is part of the preliminary requirements to be considered for the California Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project and therefore eligible for monetary vouchers to reduce total cost for the purchaser.
On July 10, Workhorse closed down 5.5% after Hindenburg Research said it was short on the stock and expecting a 50% downside based on its view that the valuation is “astronomical.”
Workhorse shares have more than quintupled this year.
