Workhorse Group shares fall 27.47% after-hours as shareholder vote urgency and restructuring risks weigh.

Workhorse Group (WKHS) plunged 27.47% in after-hours trading following its urgent reminder to shareholders to approve its proposed transaction with Motiv ahead of the November 25, 2025, annual meeting. The press release emphasized that failure to achieve quorum could force the company into a "standalone path," including potential restructuring, which would likely erode shareholder value. Despite highlighting the strategic benefits of the Motiv deal, the firm’s repeated warnings about the dire consequences of insufficient shareholder support—such as deep losses and operational instability—sparked investor concern. The stock’s sharp decline reflects heightened anxiety over the transaction’s uncertain approval and the company’s precarious financial position, underscored by its negative margins, high leverage, and Altman Z-Score in the distress zone. The urgency in the messaging, coupled with institutional sell-offs and volatile trading patterns, amplified the bearish sentiment.