Why Shares of Workhorse Group and DiamondPeak Holdings Dropped on Wednesday
Shares of electric-van maker Workhorse Group (NASDAQ: WKHS) and DiamondPeak Holdings (NASDAQ: DPHC), a shell company that will soon merge with electric-pickup start-up (and Workhorse offshoot) Lordstown Motors, were both down sharply on Wednesday. There was no new negative news on Wednesday, but CNBC's Jim Cramer did give a pessimistic assessment of Lordstown's prospects earlier this week, possibly influencing investors. As of 3 p.m. EDT, shares of Workhorse and DiamondPeak had fallen 17.9% and 15.1%, respectively.
