![]() Army back in 1920, and the company has a proven track record of delivering special purpose trucks to meet the unique requirements of government entities. Oshkosh designed and manufactured its first military truck for the U.S. Oshkosh has a healthy relationship with government entities such as the Department of Defense and is considered a reliable supplier of heavy-duty and military vehicles. Morgan Olson was the recipient of the largest contract order for vehicles ever back in the '80s and successfully delivered 150,000+ vehicles to the Postal Service. Karsan has designed more than 277,000 vehicles primarily in Europe. Is there a proven track record of large-scale manufacturing? Is there an existing relationship with a government entity? Is there an existing relationship with the USPS? Here's a summary that could help you gauge a measure of Workhorse's chances of winning the contract. This could prove to be advantageous in the bidding process. A standard Ford Transit Cargo van was modified to build their USPS prototype and this van has already been thoroughly tested to ensure its safety. In partnership with Ford, Oshkosh is the only bidder to use an existing vehicle in the bidding process. Oshkosh is another manufacturer that has a healthy relationship with government entities as the company works with the Department of Defense in manufacturing defense vehicles. This business relationship spanning more than two decades certainly provides an edge for Morgan in the bidding process. that resulted in a name change to Morgan Olson in 2004. The most common vehicle used to deliver letters around the country today is the Grumman Long Life Vehicle that was manufactured by Grumman Olson more than 25 years ago before the company was acquired by Morgan Corp. Morgan Olson has a long-standing history with the USPS. Below are the prototypes delivered to USPS by the above manufacturers. ( OSK) in partnership with Ford Motor Company ( F) are competing for the USPS vehicle contract alongside Workhorse. Karsan, a Turkey-based vehicle manufacturer that has partnered with Morgan Olson, and Oshkosh Corp. To short the stock, however, I believe it would be better to wait until the USPS announces the contract winner/s for reasons discussed in this analysis. Regardless of the outcome from this event, odds are stacked against Workhorse to deliver expected financial results in the coming years. The United States Postal Service might finalize its decision on the $8 billion Next Generation Delivery Vehicle project in the coming week, and Workhorse is one of the three contenders battling for this seemingly lucrative deal. None of this compares with what is on the cards for October. In the following weeks, the optimistic outlook painted by Formidable Asset Management, completing the Federal Motor Vehicle Safety Standards test for its trucks, inclusion in the Russell 3000 index, financing received via issuing senior convertible notes, and the order received from eTrucks all helped Workhorse stock rally into new highs. Things changed dramatically in late-June when ServPro signed a letter of intent to buy 1,200 Endurance pickup trucks from Lordstown Motors. The company continued to make losses and the stock traded below $7 per share, identical to the price level seen in mid-2010. The first half of this year, however, was business as usual for Workhorse investors. ( NASDAQ: WKHS) has been on a wild ride this year and shares are up a staggering 780% in 2020.
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