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Workhorse Rises After Lawmaker Seeks Probe of Big Oshkosh Trade

Workhorse Surges as Lawmakers Take Aim at Postal Contract Bloomberg 3/9/2021 Ari Natter, Todd Shields and Lillianna Byington © Bloomberg Monitors display stock market information as pedestrians are reflected in a window at the Nasdaq MarketSite in the Times Square area of New York, U.S., on Friday, Sept. 6, 2019. U.S. stocks advanced and Treasuries were mixed as Federal Reserve Chairman Jerome Powell’s latest comments did little to alter views on Federal Reserve policy. (Bloomberg) Workhorse Group Inc. rose as a House panel made plans to examine the U.S. Postal Service’s awarding of a blockbuster truck-building contract to Oshkosh Corp. and another lawmaker raised questions about stock trades just prior to the contract announcement.

Workhorse Surges Amid Lawmaker Probe, EV Bill for Postal Trucks

Workhorse Surges Amid Lawmaker Probe, EV Bill for Postal Trucks
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Big trade in Oshkosh shares before Postal award spurs questions

A lawmaker is calling for an investigation of a US$54.2 million, after-hours purchase of Oshkosh Corp. stock the day before the company won a blockbuster contract to build trucks for the U.S. Postal Service. The transaction of 524,400 shares is bigger than Oshkosh trading volume for some entire days. The block itself amounted to almost 1% of the company’s publicly available shares and 74% of the firm’s 20-day average volume, according to data compiled by Bloomberg.

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