Workhorse Group
- 🦄Became a unicorn2020
- 📈Peak valuation$5 Billion ’21
- 💔Became a Unitard2021
- 💸Last valuation~$32.4M
How it happened
Workhorse Group makes battery-electric delivery trucks and once pitched a drone-equipped last-mile van. Riding the 2020-21 EV-stock mania and hopes of winning a giant US Postal Service fleet contract, its market value approached $5B despite just $1.4M of 2020 revenue. The USPS award went to a rival, production stayed minimal, and the stock collapsed more than 99%. Glassdoor reviews from the lean years that followed described the strain inside — a tight-lipped front office that left staff guessing about the company's finances, raises that barely registered, and uncertainty hanging over daily work. After repeated reverse splits to maintain its Nasdaq listing, Workhorse trades as a micro-cap worth a tiny fraction of its peak.
Employee accounts paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗. See our methodology.
Source: Nasdaq / Macrotrends / Investing.com (market cap approached ~$5B early 2021 on ~$1.4M of 2020 sales; missed out on the USPS fleet contract; shares hit a 52-week low near $1; multiple reverse splits)
