What’s happening with Workhorse Group stock on Wednesday? – Workhorse Group Inc. (NASDAQ: WKHS)

Workhorse Group Inc. has revealed plans for a reverse stock split to be executed on March 17. In an attempt to meet the Nasdaq’s minimum bid price requirement for continued listing, the company will implement a 1-for-12.5 reverse stock split. Under Nasdaq regulations, listed companies must maintain a minimum closing bid price of $1 per share for ten consecutive trading days, and Workhorse Group Inc. aims to achieve this by March 31.

As a result of the reverse stock split, every 12.5 shares of the company’s common stock will be consolidated into one share of common stock. Any fractional shares resulting from the reverse split will be rounded up to the nearest whole share. Trading of Workhorse shares on a split-adjusted basis is expected to commence on March 17, with the company’s common stock continuing to trade on the Nasdaq under the symbol “WKHS.”

Furthermore, Workhorse is scheduled to report its fourth-quarter financial results later this month. Analysts are currently anticipating a loss of 42 cents per share and revenue of $3.1 million according to estimates from Benzinga Pro.

Over the past year, Workhorse shares have experienced a significant decline of nearly 95%. As of the time of publication, the stock was trading at 30 cents, representing a 17.6% decrease. The company’s stock performance reflects the challenges it has faced, prompting the decision to implement a reverse stock split as part of its strategic efforts to maintain compliance with Nasdaq listing rules.

In addition to these developments, it is important for investors to be mindful of external factors that may impact the market. Recent events, such as the implementation of tariffs on steel and aluminum imports by the Trump administration, have the potential to influence stock valuations and market sentiment. Keeping abreast of these macroeconomic factors can provide insights into the broader market landscape and aid in making informed investment decisions.

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