Worksport Ltd. announces a new investor relations website, highlighting growth strategies and innovative clean-tech products targeting a $13B market.
Quiver AI Summary
Worksport Ltd. has launched a new investor relations website aimed at providing shareholders and potential investors with current information on the company's growth strategies, milestones, and product innovations. The site features a video presentation titled "Worksport’s Road to a $13B Target Market," which highlights Worksport's vision to become a leading player in clean technology with products like the SOLIS solar tonneau cover and COR mobile power system. CEO Steven Rossi emphasized the company's significant growth, including 581% year-over-year sales growth in Q3 2024, and outlines plans for new product launches in 2025. The company is also focusing on expanding its market share through proactive strategies, including pre-orders for its latest tonneau cover. Worksport aims to capitalize on the growing demand for sustainable energy solutions, with an integrated approach to innovation and product development.
Potential Positives
- Worksport announced significant year-over-year sales growth of 581% in Q3, highlighting strong business momentum.
- The company is launching new products, including the AL4 tonneau cover and SOLIS solar tonneau cover, which are expected to enhance its market share and revenue potential.
- The new investor relations website aims to provide enhanced transparency and communication with investors, improving stakeholder engagement.
- The CEO's optimism about reaching a 10-figure valuation showcases confidence in the company's growth strategy and market positioning.
Potential Negatives
- The press release heavily emphasizes ambitious growth targets, such as the $13B target market, which may create unrealistic expectations among investors and lead to disappointment if those targets are not met.
- The company acknowledges risks associated with its forward-looking statements, including supply chain delays and market acceptance, which may undermine investor confidence.
- The mention of cryptocurrency investments introduces potential volatility and regulatory risks that could adversely affect the company's stability and public perception.
FAQ
What is Worksport's growth target for the future?
Worksport aims to evolve into a leading clean-tech player targeting a $13 billion market.
How can investors access Worksport's latest information?
Investors can visit Worksport's new investor relations website for press releases, reports, and news updates.
What innovative products is Worksport launching soon?
Worksport plans to launch the AL4 tonneau cover, SOLIS solar tonneau cover, and COR mobile power system in 2025.
Who is the CEO of Worksport and what is his vision?
Steven Rossi is the CEO, and he envisions significant growth through clean energy innovations and expanding product lines.
What recent sales growth did Worksport achieve?
Worksport reported a remarkable 581% year-over-year sales growth in Q3 2024.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$WKSP Insider Trading Activity
$WKSP insiders have traded $WKSP stock on the open market 1 times in the past 6 months. Of those trades, 1 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $WKSP stock by insiders over the last 6 months:
- STEVEN F. ROSSI (CEO and President) purchased 33,333 shares.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$WKSP Hedge Fund Activity
We have seen 10 institutional investors add shares of $WKSP stock to their portfolio, and 12 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- ARMISTICE CAPITAL, LLC added 786,242 shares (+35.6%) to their portfolio in Q3 2024
- SCOGGIN MANAGEMENT LP removed 533,750 shares (-100.0%) from their portfolio in Q2 2024
- CITADEL ADVISORS LLC removed 99,352 shares (-100.0%) from their portfolio in Q3 2024
- JANE STREET GROUP, LLC removed 73,383 shares (-100.0%) from their portfolio in Q2 2024
- GEODE CAPITAL MANAGEMENT, LLC added 40,537 shares (+20.7%) to their portfolio in Q3 2024
- HRT FINANCIAL LP added 33,597 shares (+271.8%) to their portfolio in Q3 2024
- UBS GROUP AG removed 26,536 shares (-100.0%) from their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
“Worksport’s Road to a $13B Target Market” Underscores the Company’s Growth Strategy, Clean-Tech Innovations, and Expanding Operations
West Seneca, New York, Dec. 18, 2024 (GLOBE NEWSWIRE) --
Worksport Ltd.
(NASDAQ: WKSP)
(“Worksport” or the “Company”), a U.S.-based manufacturer and innovator of hybrid and clean energy solutions for the light truck, overlanding, and global consumer goods sectors, is pleased to announce the launch of its
new investor relations (“IR”) website
. This enhanced platform provides shareholders, analysts, and prospective investors with up-to-date information on the Company’s initiatives, growth milestones, and strategic direction. The site also features a must-watch video presentation titled “
Worksport’s Road to a $13B Target Market,
” offering
new
insights into how Worksport anticipates evolving into a leading clean-tech player through groundbreaking products like the SOLIS solar tonneau cover and the COR mobile power system.
New Website:
https://investors.worksport.com
.
Empowering Investors with Information
In addition to the enhanced strategic vision, Worksport’s new IR website is designed to deliver an immersive and transparent investor experience. Visitors can access the Company’s latest press releases, financial reports, SEC filings, corporate presentations, and a growing library of video content. Investors are highly encouraged to join Worksport’s investor newsletter—a valuable channel for receiving timely updates, strategic insights, and invitations to upcoming events.
Chief Executive Officer Commentary
“
Worksport is expanding on all fronts—from a proactive
cryptocurrency strategy
involving Bitcoin (
BTC
) and Ripple (
XRP
), to
581% year-over-year sales growth in Q3
, to the launch of three new products coming in 2025,
” said
Steven Rossi
, Chief Executive Officer of Worksport Ltd. “
We believe Worksport’s tonneau cover business is headed towards 9-figures in revenue within the next few years, while the SOLIS and COR systems tap into additional multi-billion-dollar markets. With this integrated approach,
we aim to grow the overall business into a 10-figure
continually expanding brand powered by innovative, sustainable technologies. We plan to kick the year off strong in
January
, and I could not be more excited for the next few years.
”
Upcoming Product Launches
: The Company’s forthcoming
AL4
tonneau cover has already
secured pre-orders from two leading industry distributors
. With the AL4’s scheduled launch approaching, Worksport expects to capture greater market share. Following the AL4, cover, the Company will introduce its
SOLIS
solar tonneau cover and
COR
mobile power generation system later in 2025, expanding its portfolio of clean-tech innovations designed to meet the growing need for sustainable energy solutions.
Key 2024 Press-Releases
December 9:
Worksport Shares Fox & Friends Live Appearance
December 6:
Worksport Shares 51% B2C and 60% B2B Sales Growth in November
December 5:
Worksport Adopts Changes To Corporate Treasury
November 22:
Worksport Announces 30% Increase in Production Capacity
November 21:
CEO Insider Purchase; Worksport Investigates Short Selling
October 29:
200% Growth in B2B Sales; Pre-Order Campaign Initiated For AL4
October 17:
Nasdaq Grants Extension To Regain Compliance
October 17:
$2MM+ Projected Savings From New Strategic Initiative
September 30:
Update On ISO Certification
September 19:
Alpha Launch of SOLIS & COR
September 11:
Worksport COR as an EV Range Extender for Tesla Model 3
August 14:
Record High Revenues; 275% Q2 Growth
May 8:
Worksport Awarded $2.8MM Grant
Read all Worksport press releases:
[Link to All Press Releases]
.
About Worksport
Worksport Ltd. (Nasdaq: WKSP), through its subsidiaries, designs, develops, manufactures, and owns the intellectual property on a variety of tonneau covers, solar integrations, and NP (Non-Parasitic), hydrogen-based true green energy solutions for the sustainable, clean energy, and automotive industries. Worksport has an active partnership with Hyundai for the SOLIS Solar cover. Additionally, Worksport’s hard-folding cover, designed and manufactured in-house, is compatible with all major truck models and is gaining traction with newer truck makers including the EV sector. Worksport seeks to capitalize on the growing shift of consumer mindsets towards clean energy integrations with its proprietary solar solutions, mobile energy storage systems (ESS), and NP (Non-Parasitic), Hydrogen-based technology. Terravis Energy’s website is
terravisenergy.com
. For more information, please visit
investors.worksport.com
.
Connect with Worksport
Please follow the Company’s social media accounts on
X (previously Twitter)
,
Facebook
,
LinkedIn
,
YouTube
, and
Instagram
(collectively, the “Accounts”), the links of which are links to external third party websites, as well as sign up for the Company’s newsletters at
investors.worksport.com
. The Company does not endorse, ensure the accuracy of, or accept any responsibility for any content on these third-party websites other than content published by the Company.
Product social media | Investor social media |
X (formerly Twitter) | |
YouTube | Link to Newsletter |
Investors and others should note that the Company announces material financial information to our investors using our investor relations website, press releases, SEC filings, and public conference calls and webcasts. The Company also uses social media to announce Company news and other information. The Company encourages investors, the media, and others to review the information the Company publishes on social media.
The Company does not selectively disclose material non-public information on social media. If there is any significant financial information, the Company will release it broadly to the public through a press release or SEC filing prior to publishing it on social media.
For additional information, please contact:
Investor Relations, Worksport Ltd. T: 1 (888) 554-8789 -128 W:
investors.worksport.com
W:
www.worksport.com
E:
investors@worksport.com
Forward-Looking Statements
The information contained herein may contain “forward‐looking statements.” Forward‐looking statements reflect the current view about future events. When used in this press release, the words “anticipate,” “believe,” “estimate,” “expect,” “future,” “intend,” “plan,” “project,” “envisioned,” “should," or the negative of these terms and similar expressions, as they relate to us or our management, identify forward‐looking statements. These statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: (i) supply chain delays; (ii) acceptance of our products by consumers; (iii) delays in or nonacceptance by third parties to sell our products; and (iv) competition from other producers of similar products. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (“SEC”), including, without limitation, our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at
www.sec.gov
. As a result of these matters, changes in facts, assumptions not being realized or other circumstances, the Company’s actual results may differ materially from the expected results discussed in the forward-looking statements contained in this press release. The forward-looking statements made in this press release are made only as of the date of this press release, and the Company undertakes no obligation to update them to reflect subsequent events or circumstances.
Worksport acknowledges the inherent risks of investing in cryptocurrency, including market volatility and regulatory uncertainties, and is committed to managing these risks through oversight and diversification strategies. The decision to pursue this investment has been reviewed and approved by the Board of Directors of Worksport and complies with the Company’s corporate governance policies.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
