βΒ $33.2 Million market cap Β· β99.3% from peak
The rise & fall
8 moments Β· 2007β2025
The key moments, with employee sentiment along the way.
2007
π±
2007
Founded as AMP Electric Vehicles
An Ohio EV startup that takes the Workhorse name in 2015 and aims at electric delivery vans.
Wikipedia
2020
π¦
2020
EV mania lifts it into the club
The stock rides the 2020 EV boom and hopes of a giant USPS mail-truck contract past a $1B valuation.
Macrotrends
Feb 2021
π
Feb 2021
The peak: ~$5B on $1.4M of sales$5B
Early-2021 euphoria values Workhorse near $5B despite 2020 revenue of about $1.4M.
Macrotrends
Feb 2021
Feb 2021
USPS picks Oshkosh
The next-generation mail-truck contract goes to a rival; the thesis evaporates and the stock craters.
Reuters
2021
π
2021
Slips out of the club
By late 2021 the market cap is a small fraction of its February high.
Macrotrends
2022β24
π¬
From the inside Β· Glassdoor reviews, 2022β24
Glassdoor reviews from the lean years 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.
2024β25
2024β25
Reverse splits to keep the Nasdaq listing
With the shares near $1, repeated reverse splits keep Workhorse listed.
Nasdaq
Today
Today
Still in the club β and still trading
Live Β· WKHS Β· NasdaqCMas of 2026-09-17
$3.04β² 0.00% todayβ $33.2M cap Β· β99.3% from peak
π¬ entries paraphrase anonymous, unverified reviews posted publicly on Glassdoor β; dated facts carry their source.
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%. After repeated reverse splits to maintain its Nasdaq listing, Workhorse trades as a micro-cap worth a tiny fraction of its peak.
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)
Who ran it
Rick Dauch
CEO (since Aug 2021)
Still there β Chief Executive Officer Β· LinkedIn β
Current roles as self-reported on LinkedIn, retrieved 2026-08-19. See our methodology.
