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Workhorse Slammed After Missing Out on Postal Truck Contract

Shares of Workhorse Group  (WKHS) – Get Report fell sharply Tuesday after the postal service awarded a potentially huge contract to build new delivery trucks to rival Oshkosh  (OSK) – Get Report.

Workhorse shares fell $14.88, or 47%, to $16.47 in the regular session. It continued to fall in after-hours action.

Oshkosh gained $6.34, or 6.1%, to $109.62 in the regular session and rose sharply in after-hours action.

“Under the contract’s initial $482 million investment, Oshkosh Defense will finalize the production design of the Next Generation Delivery Vehicle (NGDV) — a purpose-built, right-hand-drive vehicle for mail and package delivery — and will assemble 50,000 to 165,000 of them over 10 years,” the postal service said in a statement.”




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