Shares of electric truck maker Workhorse Group (NASDAQ:WKHS) surged on Tuesday, and were up 10.4% as of 12:10 p.m. EST, apparently on no news of particular note.
But there is the prospect of two news events. First and foremost, Workhorse is gearing up to report third-quarter results on Nov. 9. Analysts expect a loss of $0.10 per share. Still, if the company hits that number, it will be a sizable improvement from the $0.17 quarterly loss a year ago.
As my fellow Motley Fool contributor John Rosevear pointed out last week, Workhorse is expected to give investors an update on the production status of the electric vans that it is building for Ryder System, and perhaps for other buyers as well.
And further out on the horizon, there's still the U.S. Postal Service contract to consider. Investors have been waiting a good five years or more to learn whether Workhorse might win all or part of the Postal Service's planned $6.3 billion deal for 180,000 new environmentally friendly delivery trucks. But on Oct. 13, the Postal Service declined to name a winner of the contract. Still, it affirmed that it plans to announce a winner, or winners, by the end of the calendar year.
Winning that contract would obviously be great news for Workhorse, and a big boost to its revenue stream. But today, just knowing that it might win seems to be enough to keep the stock afloat.