What is going on moon gang, i hope you're having a great day. My name is matt and in this video i will be discussing both workhorse and lordstown motors. Each of these companies had a phenomenal day in the stock market. I will be explaining what prompted such a considerable upswing, and i will also be sharing why i'm personally bullish on workhorse and lord sound motors and why you should be too before i dive into it.

If you haven't already, you can join the moon gang by subscribing to the channel and don't forget to turn on your notifications, so you don't miss any of my timely analysis updates. Also, i truly love talking about this type of stuff. With all of you, let me know your thoughts on both workhorse and lord sound motors in a comment below alrighty, then, with that out of the way, let's get started, the stock market just closed for the day and the ev sector was on fire. Tesla posted a gain of 3.4 percent, hylion was up 8.1 neo gained 2.6, and the stars of the show were lordstown motors and workhorse, which gained 12.8 percent and 13.3 percent respectively beyond the overall market and specifically eevee stocks having a good day, both lordstown motors and Workhorse had notable gains because of two key reasons: workhorse stock and lordstown stock move in tandem, because workhorse is a 10 equity owner in lordstown, and on top of that, workhorse will be receiving a royalty for the first 200 000 vehicles that lordstown sells.

For those of you interested lordstown is a spac play. They are in a definitive merger agreement with diamond peak holdings and when the transaction is complete, which is expected in the fourth quarter of 2020 lordstown will trade under the new ticker ride. It was reported late last week that lordstown has confirmed that it has received 40 000 pre-orders for their electric truck the endurance, which is scheduled to start deliveries in late summer of 2021.. The revenue for this is roughly 2 billion, which is an increase from the original figure of 27 000 pre-orders.

Obviously, this is a massive benefit for both lordstown and workhorse, but, more importantly, lordstown's. Electric truck is starting to get some serious. Notoriety trump shows off lordstown motors pickup truck at white house. On the eve of cleveland presidential debate, i would recommend watching this full video clip, but to sum it up briefly, the president called the truck incredible.

He thought it was cool that there's a motor in all four wheels and he absolutely loved how this company will be creating more jobs in the state of ohio. I also thought it was intriguing that the president specifically noted that there'll be more electric cars and trucks in the u.s in the coming years. This makes me more confident as an investor in this sector. This positive pr is obviously good news for both lordstown and workhorse, but i think that it goes one step deeper unless you've been living under a rock.

You know that it's an election year and ohio is a swing state. The president will do everything in his power to get the people of ohio to vote for him. This is great news for workhorses chances at winning the multi-billion dollar usps contract, because people love when there's new jobs and more money in their area. Workhorse winning this contract, or at least a large portion of it, also looks good in the sense that it's, the only company in consideration that produces a fully electric delivery van.

The ford partnership option is traditional gas and diesel, and the oshkosh partnership is a hybrid option. From a political standpoint, i would in no way be surprised if trump is favoring workhorse, because it would create jobs in the swing state of ohio, and it would also look good through the optics of the going green initiative. If workhorse is selected, i could easily see its stock clearing 50 dollars and, if there's a short squeeze, it might even go above 60., but on the other hand, if it's not selected for whatever reason, i would be prepared for a notable drop, even if workhorse doesn't Get the usps contract and lordstown doesn't start delivering the endurance on time, i'm still extremely bullish on both of these stocks and here's why electrification is the future over the next decade it will proliferate across all transportation, verticals from passenger cars to commercial trucks, to last mile Delivery vans and everything in between first consumer demand is shifting young consumers who were raised to be hyper aware of the environment and educated on how to reduce carbon emissions. Want evs.

A 2018 survey from hpi found that 91 percent of millennials are considering buying an electric car for their next vehicle purchase over the next decade. They will increasingly drive auto market demand and, if all of them want evs, then it's easy to see how evs take over the passenger car market from a demand perspective in the 2020s. Second, the technology is getting better because demand is shifting more and more resources and talent are being thrown into the eevee space. Third, the cars are getting cheaper thanks to better technology, more streamlined manufacturing processes and increased scale.

The cost to produce evs is dropping dramatically, resulting in huge drops in ev prices. Fourth, the need is getting bigger. The need for us to reduce carbon emissions is only growing every single year and evs give everyone a mainstream way to help fix this problem. Because of these four reasons, i strongly believe that the electric vehicle sector will explode over the next decade.

As of now, just two percent of all vehicles sold are evs, but by the year 2030, that number is predicted to grow to 20 percent, which is exactly why i'm happy to be a long-term investor in companies such as workhorse and lordstown motors, and i'm not going To put too much weight on whatever happens in the short term and as a quick side note, i don't stand alone with these opinions. The fund managers at arkhamvest have been absolutely loading up on workhorse over the past week. The rq etf has gone from 650 000 shares of workhorse stock, all the way up to 730 000.. I know nothing is guaranteed in the stock market, but the fact that these professionals are becoming more and more bullish on workhorse makes me confident in my investment workhorse trades under the ticker wkhs and at the time that i'm making this video the stock is just above 28 and in the month of september, workhorse is up a noteworthy 55 if you're interested in how i got these levels of support and resistance, there's a link to a video on the top of the screen now and i'll, also post it.

In the description of this video, but you should know the first support would be a drop of 15 and the first resistance, which is the all-time high, would be a gain of 10, and my first price target, which is 50, would be a gain of 78 lordstown Motors is currently trading under diamond peak holdings, which has the symbol, dphc and the stock is currently just below 27 in the month of september. Lordstown motors is up a noteworthy 62, but it has been a wild ride. It's gone from 16 all the way up to 32 back down to below 20 and, like i said it's now back at 27., if you enjoy trading stocks that have considerable volatility. Lordstown is a great option for you, but you should know that the first support would be a drop of just over six percent and the first resistance would be a gain of 11 percent if the ev sector keeps trending in this general direction, i'm expecting lordstown stock To hit 30 dollars in the immediate future and clear forty dollars by the end of this year, and if history is any indicator, i'm preparing for an extreme amount of volatility in lord sounds new symbol r-i-d-e when the merger goes through at the end of 2020..

Overall, i'm a big fan of both workhorse and lordstown motors. I would argue that both of these companies have a bright future, because they are extremely well positioned within the growing ev sector. I truly think that both of their stocks are set to soar, but with all that being said, these are my personal opinions and i'm not a financial advisor make sure to do your own research. I would love to know your thoughts on both workhorse and lordstown.

In the comment below and feel free to post any suggestions or recommendations for what you want me to cover next, thanks for making it to this point in the video, your support means a lot to me. My entire goal is to provide as much value as i can so if you have any ideas about how these videos can be improved, feel free to, let me know, but with that being said, if you enjoyed this video, let me know by hitting the like button And if you want to join the moon gang subscribe to the channel and don't forget to turn on your notifications, thanks for watching and until next time best of luck in the markets, you.