Meme Stock Crash: 5 Worst-Performing Stocks of Reddit’s WallStreetBets

4. Workhorse Group Inc. (NASDAQ: WKHS)

Number of Hedge Fund Holders: 16
Monthly Decline: 24%

Workhorse Group Inc. (NASDAQ: WKHS) is placed fourth on our list of 10 worst-performing stocks of Reddit’s WallStreetBets. The stock has declined in value by 43% year-to-date. The firm makes and sells electric vehicles and aircraft. It is based in Ohio. Amid selling pressure in the electric vehicle sector, the stock has been falling in value in recent days after a record rally at the turn of the year. On July 13, the share price slumped by more than 4% in a single day amid reports of an auditory conflict related to the firm.

On April 6, investment advisory Cowen downgraded Workhorse Group Inc. (NASDAQ: WKHS) stock to Market Perform from Outperform with a price target of $13. The advisory underlined the shares were fairly valued compared to basic business fundamentals. 

At the end of the first quarter of 2021, 16 hedge funds in the database of Insider Monkey held stakes worth $96.6 million in Workhorse Group Inc. (NASDAQ: WKHS), the same as in the preceding quarter worth $90.8 million.