Momentum Builds: Workhorse's IRS Determination; Edgio's Upbeat Q2 Results
- September 13th, 2023
- 534 views
Shares of Workhorse Group Inc. (Nasdaq: WKHS) soared over 20% in after-hours trading following the company's announcement of IRS approval as a qualified manufacturer for the Commercial Clean Vehicle Credit. This approval opens the door for Workhorse customers to potentially receive up to a $40,000 credit for deliveries of all Workhorse vehicles in 2023 and beyond.
$WKHS was trading at $0.79, marking a notable gain of $0.16 (+25.95%) in the extended session.
In other news, Edgio, Inc. (Nasdaq: EGIO) delivered second-quarter 2023 financial results that exceeded expectations. The company posted a loss of $(0.09) per share, better than the consensus estimate loss of $(0.11). Additionally, Edgio reported quarterly sales of $95.80 million, slightly surpassing analysts' revenue projections of $95.31 million for the period.
In after-hours, $EGIO was trading at $0.86, up $0.07 (+8.86%).
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