Will a 1-for-20 Reverse Split Save Workhorse (WKHS) Stock?

Company Overview - Workhorse, originally founded as AMP Electric Vehicles in 2007, aimed to convert gas-powered vehicles to electric vehicles (EVs) and acquired a Navistar subsidiary in 2012 [6] - The company has transitioned to manufacturing electric vans and was previously involved in a bid for a contract to supply electric delivery vans to the U.S. Postal Service (USPS) [2] Recent Developments - Workhorse executed a 1-for-20 reverse stock split to comply with Nasdaq's minimum bid price requirement, increasing share price from $0.15 to $3 [1] - Following the announcement of the reverse split, shares fell by 11% and have since decreased by an additional 25%, currently trading around $2.20 [5] Financial Performance - In 2023, Workhorse reported a loss of $123 million, equating to $0.60 per share, on revenues of $13 million [8] - The company has recently secured a contract with a California dealer for electric trucks, indicating some movement towards business recovery [8] Market Position - Workhorse's bid for the USPS contract was unsuccessful, with the contract awarded to Oshkosh, which has committed to increasing the percentage of EVs in its order [2][7] - The government is now purchasing 9,250 electric vans directly from Ford, which was initially designated to provide engines for the Oshkosh contract [2]