Workhorse Group Inc (OTCMKTS:WKHS) Having A Bad Time

[[tagnumber 0]][[tagnumber 1]]The past month has been somewhat favorable to the stock of Workhorse Group Inc (OTCMKTS:WKHS) and its shareholders. After some slow sliding through most of the year we finally saw some upward movement from the ticker, but it was inconsistent.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]By the end of August [[tagnumber 6]]WKHS[[tagnumber 7]] had lost momentum, which is not that strange considering the fact that the company isn’t very active in issuing news about its business. Another thing that should be taken into consideration is the massive market cap that [[tagnumber 6]]WKHS[[tagnumber 7]] commands and the numbers that are supposed to back it up.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Here is a quick example of what [[tagnumber 6]]WKHS[[tagnumber 7]] had to show in the balance sheet for the second quarter of the year.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 19]] [[tagnumber 20]]cash: $161 thousand[[tagnumber 21]] [[tagnumber 20]]current assets: $543 thousand[[tagnumber 21]] [[tagnumber 20]]current liabilities: $6.1 million[[tagnumber 21]] [[tagnumber 20]]quarterly revenues: $68 thousand[[tagnumber 21]] [[tagnumber 20]]quarterly net loss: $1.8 million[[tagnumber 21]] [[tagnumber 30]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Although not very impressive, however, they didn’t stop the company from making a huge jump in the middle of last week. The ticker blasted off on Wednesday, gaining 49.69% in value and closed the session with a price of $0.61 per share.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The reason for the climb was a September 9 announcement by United Parcel Service, Inc. (NYSE:UPS) announcing that they were expanding their hybrid electric fleet with the help of [[tagnumber 6]]WKHS.[[tagnumber 7]][[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Unfortunately, the excitement didn’t last long and [[tagnumber 6]]WKHS[[tagnumber 7]] reverse its direction. As the ticker began to fall we saw increased trading that generated $1.23 million in daily dollar volume in Thursday’s session. Friday ended with a 8.62% loss and a trade value of $635 thousand, with [[tagnumber 6]]WKHS[[tagnumber 7]] finishing the week at a price of $0.53.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Considering the massive market cap of $90 million we can expect that [[tagnumber 6]]WKHS[[tagnumber 7]] might drop even further. Today’s session just goes on to show that as the ticker is, already, 12.26% in the red as of the writing of this article.[[tagnumber 2]]