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Workhorse Group Jumps Along With the Meme Stocks

Workhorse, swept up in the meme-stock trading, on Tuesday saw more than three times its normal volume.

Shares of Workhorse Group  (WKHS) - Get Workhorse Group Inc. Report jumped on Tuesday as the electric-vehicle maker was swept up in the meme-stock trading from small investors. 

Workhorse shares at last check jumped 17% to $16.35 a share on more than triple average daily volume.

The rise in Workhorse's stock, seemingly driven by no specific news, matches the activity seen in other stocks that have captured the imaginations and pocketbooks of retail traders.

These investors are encouraging one another on message boards like Reddit to jump into the stock-trading game on expectations of quick profits.

The Loveland, Ohio, EV maker joined Clover Health Investments  (CLOV) - Get CLOVER HEALTH INVESTMENTS CORP Report and burger chain Wendy's  (WEN) - Get Wendy's Company Report in benefiting from the meme-stock craze on Tuesday. 

Wendy's shares jumped more than 18% while Clover jumped more than 50% Tuesday. 

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Clover Health is a Medicare insurance startup that went public via a SPAC from venture capitalist Chamath Palihapitiya.

"Today's upward movement is just the tip," one poster wrote on Reddit on Tuesday. "Like an iceberg, 90% of this stock's potential is unseen."

"Bought me some," another said. "Let’s get it up there! Hearing great things."

"Everyone hold if you can," a third poster said. "This is just literally Day 1 of the squeeze. Just getting started. $CLOV to $250."

Meanwhile, Wendy's has a fan in TheStreet Founder Jim Cramer, who says the stock should be pushed higher.

Wendy's last month raised its full-year profit forecast following stronger-than-expected first quarter earnings and same-store-sales. The company is also backed by activist shareholder Trian Fund Management.