Summary
• Workhorse Group Inc. shares fell 9.9% to $0.8404 amid shareholder merger vote results.
• Shareholders approved a merger with Motiv Electric Trucks, aiming to enhance positions in the zero-emission vehicle market.
• Despite positive earnings surprise, Workhorse faces significant year-to-date losses nearing 99.3% and ongoing stock volatility.
Workhorse Group Inc. (WKHS) shares fell to $0.8404, reflecting a -9.9% change during intraday trading. This marks a significant downward shift from the previous close. Notably, the stock has been fluctuating amid a recent shareholder vote regarding a pivotal merger.
Shareholders Approve Merger, Yet Stock Drops
On November 25, 2025, Workhorse announced that shareholders voted to approve a merger with Motiv Electric Trucks during the company’s annual meeting. This merger is a strategic move aimed at enhancing Workhorse’s position in the zero-emission commercial vehicles market. Despite this update, investor sentiment appears subdued, as reflected in the stock’s decline during the trading session.
The latest earnings report showed Workhorse posting an actual loss per share of -0.50, significantly outperforming estimates of -1.34, with a surprise percentage of 62.4%. However, the broader performance context reveals a troubling trend for the company, with year-to-date losses nearing 99.3%.
Market Performance Overview
As of the latest trading data, Workhorse has exhibited marked volatility. Over the past week, the stock has demonstrated a -22.1% performance, and on a monthly basis, it has plummeted by 27.8%. The company’s average trading volume over the last ten days stands at about 8.6 million shares, which is substantially higher than its three-month average volume of 1.9 million shares.
From a technical analysis perspective, Workhorse’s stock is showing a Relative Strength Index (RSI) of 52.66, indicating a neutral momentum. The company’s 20-day simple moving average (SMA) is at a 12.2% deviation, while the 50-day SMA shows a -6.0% deviation, reflecting ongoing downward pressure on the stock.
Recent Filings and Regulatory Updates
On November 25, 2025, Workhorse also filed an 8-K detailing the results of the shareholder meeting, confirming the merger approval with Motiv. This filing provides transparency regarding corporate actions and underscores the company’s commitment to its strategic direction.
In addition, the company filed another 8-K earlier this month, highlighting the extended voting deadline for shareholders concerning the merger proposal, demonstrating proactive engagement with its investor base in response to previous meetings.
Conclusion
Workhorse Group’s recent approval of the merger with Motiv Electric Trucks represents a critical step in its strategic plan to capture a share of the growing electric vehicle market. However, the market’s reaction, reflected in its significant share price decline, raises concerns about investor confidence and broader market conditions. As trading continues, stakeholders will be monitoring both the implications of the merger and the company’s financial health in the coming quarters.