Shares of Ohio-based automaker Workhorse jumped after a tweet from President Trump.
div > div.group > p:first-child"> Shares of the Ohio-based automaker, which makes electric vehicles, jumped more than 90%. The stock was last trading at around $1.62 after opening at 82 cents on Wednesday. Workhorse has a market value of just $105 million.
Trading in stocks below a dollar is often a risky business because of potential for outsized moves. Workhorse has an average daily volume of 345,127 shares. On Wednesday, its trading volume was up to 20.1 million shares. Cowen also said Trump's comments raised speculation that"Workhorse is likely to be a vendor for the US Postal Service program."
Workhorse told CNBC it was one of the finalists being considered for the postal service contract but would not comment further.
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