Worksportの空売り状況は、投資家がWorksportの株価下落に賭けている度合いを知ることができます。空売りデータは2週間ごとに更新されます。

Worksport (NASDAQ:WKSP) 株価情報, 空売り情報

Worksport

Worksport Ltd through its subsidiaries, designs, develops, manufactures, and owns the IP 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. The company's product includes soft vinyl tonneau covers and hard aluminum tonneau covers.

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WKSP

自動車メーカーが電気自動車（EV）の製造と改良に競っているかのように、ほぼ毎週新たなEVが登場するという感覚が近々する。

電気自動車市場に　新技術を搭載したプロトタイプが追加

Worksport Ltd

News

Worksport Expands Workforce By 30% To Scale Production, Targets $1M Monthly Online Sales With 100% Growth, And Prepares For December Launch Of Higher-Margin AL4 Tonneau Cover With Second Shift Implementation

<h3>Gainers</h3>
<ul>
<li>Wag Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PET#NASDAQ">PET</a>) stock rose 23.8% to $0.26 during Thursday's pre-market session. The market value of their outstanding shares is at $12.9 million. </li>
<li>Interactive Strength (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRNR#NASDAQ">TRNR</a>) stock increased by 15.04% to $4.13. The company's market cap stands at $2.5 million. </li>
<li>Worksport (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WKSP#NASDAQ">WKSP</a>) shares increased by 12.76% to $0.56. The company's market cap stands at $18.5 million. </li>
<li>Dream Finders Homes (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFH#NYSE">DFH</a>) stock moved upwards by 11.07% to $31.0. The market value of their outstanding shares is at $2.9 billion. </li>
<li>Universal Technical (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UTI#NYSE">UTI</a>) stock moved upwards by 10.15% to $21.91. The market value of their outstanding shares is at $1.1 billion. As per the news, the Q4 earnings report came out yesterday. </li>
<li>Genius Gr (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/GNS#AMEX">GNS</a>) stock moved upwards by 9.43% to $1.04. The company's market cap stands at $22.5 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Cato (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CATO#NYSE">CATO</a>) shares decreased by 13.8% to $5.24 during Thursday's pre-market session. The company's market cap stands at $107.7 million. As per the news, the Q3 earnings report came out today. </li>
<li>Yunji (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/YJ#NASDAQ">YJ</a>) shares decreased by 13.07% to $1.73. The company's market cap stands at $34.0 million. The company's, Q3 earnings came out today. </li>
<li>Digital Brands Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DBGI#NASDAQ">DBGI</a>) shares decreased by 12.52% to $0.12. The company's market cap stands at $4.5 million. </li>
<li>PDD Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>) stock fell 10.32% to $104.47. The market value of their outstanding shares is at $145.0 billion. As per the press release, Q3 earnings came out today. </li>
<li>Container Store Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TCS#NYSE">TCS</a>) shares decreased by 9.75% to $3.89. The company's market cap stands at $13.4 million. </li>
<li>Autozi Internet Tech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZI#NASDAQ">AZI</a>) stock decreased by 6.01% to $1.88. The market value of their outstanding shares is at $197.3 million. 
See Also: <a href="http://www.benzinga.com/money/best-consumer-cyclical-stocks/" title="www.benzinga.com/money/best-consumer-cyclical-stocks/">www.benzinga.com/money/best-consumer-cyclical-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Movers

CATO

DBGI

Citigourp Global Markets 2% Protected Notes Linked To The Djia

TRNR

12 Consumer Discretionary Stocks Moving In Thursday's Pre-Market Session

WIIM

Worksport shares are trading higher after the company announced it retained Digital BD, Inc. to monitor and investigate potentially illegal short-selling activity of its stock.

Editor&#8217;s Note: The story has been updated to mention the quantity of restricted stock purchased by the CEO
On Thursday, Worksport Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WKSP#NASDAQ">WKSP</a>) announced that it has retained Digital BD, Inc to monitor and investigate potentially illegal short-selling activity of its stock.
Rossi said the recent stock trading activity must reflect the business&#8217; health or significant growth pathways.
He said that the company sets new volume sales records almost daily while facing suspicious and volatile stock activity that it proposes to investigate thoroughly.
The company reported a 581% growth<a target="_blank" href="https://www.globenewswire.com/news-release/2024/11/13/2980701/0/en/Worksport-WKSP-Reports-Significant-581-YoY-Revenue-Growth-in-Q3-2024-Eyes-Record-2025.html" rel="noreferrer noopener">&nbsp;</a>in the third quarter and expects the 2025 revenue to exceed its market capitalization as of Wednesday. The sales are growing exponentially monthly, and three highly innovative products are set for near-term release, Rossi added.
Concurrently, CEO Steven Rossi has purchased 33,333 restricted Worksport shares at a 44% premium to the market price at $0.75 per share on November 19th.
Worksport has engaged&nbsp;Digital BD, a provider of&nbsp;Regulation SHO compliance monitoring, short sale trading analytics, and market integrity surveillance to safeguard shareholder value and address unusual trading patterns.
Digital BD will monitor daily short volume data from all U.S. exchanges, encompassing EXEMPT and&nbsp;NON-EXEMPT short sales, and will report its findings to the company.
Digital BD will scrutinize market makers trading&nbsp;Worksport shares daily for adherence to fair market-making requirements.
The Securities and Exchange Commission specifies that bona-fide market-making does not include activities related to speculative selling strategies for investment purposes that are disproportionate to usual market-making patterns.
Rossi expressed commitment to continuing its growth trajectory and protecting the interests of our shareholders.&nbsp;With the assistance of Digital BD, the company proposed to closely monitor trading activities to ensure compliance with all legal requirements.
CEO Rossi said Worksport as significantly undervalued and expects to unlock its true value. He also looks to discover, eliminate, and do everything possible to prevent future illegal short selling or open market manipulation of Worksport&#8217;s stock.
Worksport&#8217;s <a target="_blank" href="https://www.benzinga.com/news/earnings/24/11/41953667/exclusive-worksports-q3-revenue-soars-581-as-new-product-lines-boost-growth-raises-2025-outlook" rel="noreferrer noopener">third-quarter revenue</a> reached $3.12 million, up by 581% year-over-year.
Price Action: WKSP stock traded higher by 5.42% to $0.53 premarket at the last check on Thursday.
Also Read:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/price-target/24/11/42098028/qualcomms-shift-from-handsets-to-ai-and-automotive-wins-analysts-confidence" target="_blank" rel="noreferrer noopener">Qualcomm&#8217;s Shift From Handsets To AI And Automotive Wins Analysts&#8217; Confidence</a></li>
</ul>

Legal

Exclusives

EXCLUSIVE: Worksport Ropes In Digital BD to Probe Short Selling, CEO Buys Stock At Premium (UPDATED)

Market-Moving Exclusives

EXCLUSIVE: Worksport Tells Benzinga It Has Retained Digital BD To Monitor And Investigate Potentially Illegal Short Selling Activity Of Its Shares; Says Digital DB Will Monitor Daily Short Volume Data From All US Exchanges And Report Its Findings To Co.

Short&nbsp;squeezes have been making and breaking investors for a century.&nbsp;One of the greatest short squeezes in history started on a SubReddit, where hundreds of thousands of retail investors drove the price of GameStop (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gme#NYSE">GME</a>) shares up to an all-time high. While this will always&nbsp;a risky&nbsp;bet, GameStop remains a symbol of a company that went from representing retail struggles to executing a turnaround that defied expectations and conventions. Guided by an unorthodox CEO, just like the EV king Tesla Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) made history&nbsp;with&nbsp;its flamboyant CEO, Game Stop is an example of a remarkable shift that was led&nbsp;also by the company&rsquo;s largest shareholder. By transitioning from the pandemic-era turmoil to creating a robust financial footing, GameStop defied the logic of not only retail but of general business as it showed that one can survive by not growing.&nbsp;
But there are also lesser-known companies when it comes to the shorted universe, especially when it comes to the Tesla-made EV sector promising to revolutionize the future of the world.
Among such, there&rsquo;s an EV charging company EVgo Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/evgo#NASDAQ">EVGO</a>) with extremely volatile shares that just reported a record breaking third quarter. Over the last year, EVgo counted 78&nbsp;moves greater than 5% till mid-October.&nbsp;EVgo was awareded by the market for signing a memorandum of understanding with its longtime technology partner, Delta Electronics&nbsp;Inc&nbsp;to co-develop next-generation charging architecture to offer&nbsp;a superior experience for its&nbsp;customers&nbsp;and&nbsp;advance long-term charging solutions, improving convenience and reliability. With its latest quarterly results, things are looking even more bullish as EVgo is doing a good job at&nbsp;containing losses, reporting revenue growth of 92% YoY as revenue amounted to $68 million, topping forecasts by 2.4%.&nbsp;Moreover, EVgo posted a record network throughput of 78 GWh which represents a 111% YoY increase as it added more than 270 new operational charging stalls.&nbsp;In addition, its customer base expanded with&nbsp;147,000 new accounts, with the total now exceeding 1.2 million. While it did post a net loss of $33.3 million,&nbsp;strategic investments and cost management did result in an improved adjusted EBITDA.
Then there&rsquo;s also&nbsp;Worksport Ltd (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wksp#NASDAQ">WKSP</a>), a manufacturer and innovator of &ldquo;made-in-USA&rdquo; tonneau covers, as well as hybrid and clean energy solutions for the light truck and&nbsp;consumer goods sectors, with very high short interest upon its latest earnings report. Worksport continues to write a remarkable early growth story filled with groundbreaking innovation. Worksport is eyeing a record 2025 as it just reported significant YoY revenue growth for the third quarter. During the third quarter, Worksport posted that revenue surged 581% YoY to $3.12 million, with B2C sales making 51% of total revenue as they grew from last year&rsquo;s&nbsp;$21,599 to now adding as much as $1.59 million to the overall sales table.&nbsp;
Back in August, Worksport reported just as&nbsp;impressive second quarter results for the period ended on June 30th, with revenue rising 860% YoY and 275% sequentially as it reached a new record of $1.92 million, and this was before several key launches. In September, Worksport launched the Alpha release of its clean energy off-grid power duo, the SOLIS solar-powered tonneau cover and COR portable battery system. The full launch is expected next year, while the AL4 tonneau cover will be released in the fourth quarter,&nbsp;bringing in substantial revenue in 2025. In 2025, Worksport is aiming to make&nbsp;200 tonneau covers per day as well as to achieve cash flow positivity. Moreover, Worksport opened another growth pathway by getting a U.S. government agency among&nbsp;its buyers.&nbsp;
Capitalizing on the rapid growth of another prominent EV startup, Rivian Automotive (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rivn#NASDAQ">RIVN</a>), Worksport revealed that its existing lineup of premium tonneau covers is nearly finished compatibility engineering with the Rivian R1T, as it plans to also integrate its SOLIS solar cover and COR portable battery system in the future. Moreover, also in September, Worksport reported successful lab test results of its COR portable energy system as a range extender for Tesla EVs, including Model 3 and the Cybertruck, which opens further growth opportunities.&nbsp;
While Worksport and EVgo do not play at a level&nbsp;Tesla does, at least for now,&nbsp;they are still prominent EV players, and such shorted companies tell interesting growth tales that sometimes go down in history for their potential to&nbsp;revolutionize industries.&nbsp;&nbsp;
DISCLAIMER: This content is for informational purposes only. It is not intended as investing advice.
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

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Short Squeezes With Big Promises

Worksport (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WKSP#NASDAQ">WKSP</a>) sees FY2025 sales of $25.000 million-34.500 million vs $28.80 million estimate.

Guidance

Worksport Sees FY2025 Sales $25.000M-$34.500M vs $28.80M Est

Worksport shares are trading higher after the company reported better-than-expected Q3 sales results.

Worksport (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WKSP#NASDAQ">WKSP</a>) reported quarterly losses of $(0.14) per share which missed the analyst consensus estimate of $(0.13) by 7.69 percent. The company reported quarterly sales of $3.122 million which beat the analyst consensus estimate of $2.400 million by 30.10 percent. This is a 581.02 percent increase over sales of $458.483 thousand the same period last year.

Earnings

Earnings Beats

Earnings Misses

Worksport Q3 2024 GAAP EPS $(0.14) Misses $(0.13) Estimate, Sales $3.122M Beat $2.400M Estimate

On Wednesday, Worksport Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WKSP#NASDAQ">WKSP</a>) reported third-quarter 2024 financial results, showcasing revenue growth and strong guidance for 2025.
Worksport&#8217;s third-quarter revenue grew 581% year-on-year to $3.12 million, topping the analyst consensus estimate of $2.40 million. The revenue grew 63% quarter-over-quarter.
The rapid growth reflects the successful scaling of both B2B and B2C channels and the growing demand for Worksport&#8217;s innovative products.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/10/41595888/exclusive-worksport-accelerates-b2b-growth-as-dealers-snap-up-new-al4-pre-orders" rel="noreferrer noopener">EXCLUSIVE: Worksport Accelerates B2B Growth as Dealers Snap Up New AL4 Pre-Orders</a>
The gross profit increased 176% year over year to $0.24 million. It reported an operating loss of $3.91 million, which was flat year over year as operating costs rose 3.6% year over year.
The net loss was $4.13 million, down from a $3.95 million loss year ago. EPS loss of 14 cents missed the analyst consensus of 13 cents loss.
Worksport&#8217;s direct-to-consumer sales soared from $21,599 in the third quarter of 2023 to $1.59 million in the third quarter of 2024, accounting for 51% of total revenue.
The company held $1.86 million in cash and equivalents as of September 30.
Worksport began selling to a U.S. government agency, paving the way for further expansion in this segment.
Worksport said the upcoming AL4 tonneau cover will be released in the fourth quarter and is expected to drive substantial revenue in 2025. Meanwhile, the SOLIS and COR products are in Alpha testing, with a full launch anticipated next year.
Worksport is on track to boost production capacity, targeting over 200 tonneau covers per day by 2025. This scale-up aims to meet rising demand while enhancing margins, driven by the launch of new, high-demand product lines.
In the third quarter, the company maintained an inventory of $6.1 million, positioning itself for steady revenue growth without significant capital outlay. Worksport expects to exceed its 200-cover daily target without substantial time or financial investment.
Steven Rossi, Worksport&#8217;s Founder &amp; CEO, said, &#8220;Our goal is to become cash flow positive in 2025, with a keen focus on EPS and EBITA. We are targeting revenue growth to $25-$34.5 million in 2025.&#8221;
Guidance: Worksport expects to exceed <a target="_blank" href="https://www.benzinga.com/news/24/09/40830453/exclusive-worksports-sales-surge-to-1-21m-in-august-ceo-predicts-strong-2024-growth" rel="noreferrer noopener">previously issued revenue guidance</a> of $6 million—$8 million by year-end 2024, compared to the analyst consensus estimate of $7 million.
For 2025, Worksport projects its existing product lines will generate $20 million in revenue, with new product launches, including its COR and SOLIS systems, contributing up to an additional $18.5 million.
Depending on timing circumstances, these projections lead to a robust revenue outlook of $25 million—$34.5 million for 2025 (analyst consensus estimate of $28.8 million).
Price Action: WKSP stock closed higher by 5.10% to $0.87 on Wednesday.
Also Read:
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41377352/exclusive-worksport-targets-2m-in-savings-with-strategic-cuts-set-to-launch-new-clean-tech-products" target="_blank" rel="noreferrer noopener">EXCLUSIVE: Worksport Targets $2M in Savings With Strategic Cuts, Set to Launch New Clean-Tech Products in 2025</a></li>
</ul>

EXCLUSIVE: Worksport's Q3 Revenue Soars 581% As New Product Lines Boost Growth, Raises 2025 Outlook

Worksport Says It Expects To Exceed Its Previously Issued Revenue Guidance Of $6M-$8M By Year-End 2024

Worksport Says 'For 2025, Worksport Projects Its Existing Product Lines To Generate $20M In Revenue, With New Product Launches, Including Its AL4 Cover And COR And SOLIS Systems, Contributing Up To An Additional $18.5M Depending On Timing And Circumstances, These Projections Lead To A Robust Revenue Outlook Ranging From $25M-$34.5M In 2025, A Pivotal Year Anticipated To Drive Worksport Towards Cash Flow Positivity.'

Worksport Q3 EPS $(0.14) Misses $(0.13) Estimate, Sales $3.12M Beat $2.40M Estimate

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Earnings Scheduled For November 13, 2024

Worksport (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WKSP#NASDAQ">WKSP</a>) will release its quarterly earnings report on Wednesday, 2024-11-13. Here's a brief overview for investors ahead of the announcement.
Analysts anticipate Worksport to report an earnings per share (EPS) of $-0.14.
Worksport bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Performance in Previous Earnings</h3>
In the previous earnings release, the company missed EPS by $0.02, leading to a 1.73% drop in the share price the following trading session.
Here's a look at Worksport's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>-0.13</td>
<td>-0.19</td>
<td>-0.24</td>
<td></td>
</tr>
<tr>
<td>EPS Actual</td>
<td>-0.15</td>
<td>-0.18</td>
<td>-0.19</td>
<td>-0.23</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-2.0%</td>
<td>3.0%</td>
<td>-4.0%</td>
<td>21.0%</td>
</tr>
</tbody>
</table>

<a href="https://www.benzinga.com/quote/WKSP/earnings">To track all earnings releases for Worksport visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

What to Expect from Worksport's Earnings

On Thursday, both Stellantis (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/stla#NYSE">STLA</a>) and Li Auto Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/li#NASDAQ">LI</a>) issued their third quarter results and they told quite different tales. While Stellantis reported a disappointing performance, Li Auto topped estimates with record deliveries and strong financials, however, its stock fell nevertheless.&nbsp;
Stellantis reported weak financials, but this was expected.&nbsp;
&nbsp;Considering that the trans-Atlantic automaker issued a&nbsp;profit warning back in September as it trimmed its annual guidance in response to the deteriorating global industry dynamics and needing to fix its performance in North America. Unfortunately, shipments fell in Europe as well with stringent quality requirements delaying the start of a few high-volume items.
Jeep, Dodge, Fiat, Chrysler and Peugeot owner said that net revenues for the September quarter came in at 33 billion euros, which is about $35.8 billion and largely below LSEG&rsquo;s consensus estimate of 36.6 billion euros as it slumped 27%. However, Stellantis reaffirmed that it remains on track to deliver about 20 new models this year, adding that it was making good progress on slashing bloated inventories, especially in the U.S.&nbsp;
CFO Doug Ostermann&nbsp;admitted that the quarterly performance was below the automaker&rsquo;s potential but also emphasized that U.S. inventories had been meaningfully reduced and reaffirmed that targets will be hit. However, with progress resolving challenges Stellantis expects to soon benefit from its significantly expanded reach with the new product wave, from 2025 and beyond.
According to Cox Automotive, Stellantis has some of the highest inventories of vehicles on dealer lots out of all brands in the U.S. In addition, Stellantis escalated its long battle with the UAW with a lawsuit over strike threats. Like many of its peers,&nbsp;Stellantis has been struggling with a perfect storm of challenges on the EV road, including faltering global EV demand and severe competition from China.
Meanwhile, Li Auto&rsquo;s financials reflected its emerging NEV leader position in China.
Having grown deliveries by as much as 45.4%, Li Auto also grew its revenues by&nbsp;23.6% as they reached $6.1 billion. Its NEV market share grew to 17.3%.
CEO, Xiang Li also revealed that cumulative vehicle deliveries have surpassed 1 million units, which means that LI Auto achieved this milestone achieved faster than its NEV peers.
However, its outlook was not as shiny considering the delayed entry to Western Europe and North America, as the focus remains on the Middle East and Central Asia. Li Auto plans to continue advancing on the autonomous driving front, with significant enhancements on the three to five years horizon.&nbsp;
The EV landscape continues to evolve
Also this week, Worksport Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wksp#NASDAQ">WKSP</a>), an established innovative manufacturer of clean energy solutions for light trucks and the consumer goods sector, announced an upgrade of its solar-powered tonneau cover SOLIS. Worksport initated the alpha launch of its revolutionary off-grid power on the go duo, the SOLIS and the COR, a portable battery system back in September. Worksport now revealed that the SOLIS will be meaningfully improved to operate at&nbsp;60V, which should result in substantial cost savings to the end- consumer of up to $400, while expand its addressable market size, and simplifying integration with a wider range of existing battery generator systems. Generating clean and portable power for both recreational and professional use, Worksport positioned itself in a rapidly growing market whose value surpasses $4 billion.&nbsp;Also in September, Worksport announced successful lab test results of its COR battery system as a Level 1 power source for Tesla Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) EVs. More precisely, the COR added approximately 7 miles of range to Tesla Model 3. By extending range, Worksport addressed a significant EV concern. Therefore, with Worksport&rsquo;s intellectual portfolio, a moving clean energy microgrid made of pickup trucks powered by solar panels is no longer a dream but a preview of the EV era.&nbsp;
This new era brings an entirely new set of rules so even one&rsquo;s legacy isn&rsquo;t enough of a resource for an automaker to get to shape a new reality that is in the making.
DISCLAIMER: This content is for informational purposes only. It is not intended as investing advice.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

Tech

STLA

While Stellantis Performed Below Its Potential, Li Auto Reported Strong And Record Numbers

Innovative Upgrade Reduces Consumer Costs by Up to $400 and Increases Compatibility Across Multiple Battery Generator Brands and Types
West Seneca, New York, Oct. 31, 2024 (GLOBE NEWSWIRE) -- Worksport Ltd. (NASDAQ:<a href="https://www.benzinga.com/stock/WKSP#NASDAQ">WKSP</a>) ("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 excited to announce a development for its advanced solar technology system. The Worksport SOLIS solar tonneau cover will be improved to operate at 60V, a meaningful upgrade that is believed to bring substantial cost savings to consumers, expand the addressable market size, and simplify integration with a wider range of other battery generator systems existing in the marketplace.

Worksport Unveils Upgraded SOLIS Technology, Enhancing Solar Tonneau Covers For Broader Market Reach

EXCLUSIVE: Worksport Tells Benzinga 'Company Initiates Business with Hundreds of Dealers Across USA; New Model: AL4 Attracts Industry Leading Distributors'

On Tuesday, Worksport Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WKSP#NASDAQ">WKSP</a>) announced a milestone in its business-to-business (B2B) sales growth and the newly initiated pre-order campaign for its highly anticipated AL4 Premium Tonneau Cover.
In the last four months, Worksport has achieved over 200% growth in Dealer Account sales of its Worksport-branded products, with key dealers in most major areas across the USA and Canada.
The company says the growth is attributed to the surging interest in high-quality, aggressively priced tonneau covers that meet the demands of today&#8217;s market.&nbsp;
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/10/41377352/exclusive-worksport-targets-2m-in-savings-with-strategic-cuts-set-to-launch-new-clean-tech-products" rel="noreferrer noopener">EXCLUSIVE: Worksport Targets $2M in Savings With Strategic Cuts, Set to Launch New Clean-Tech Products in 2025</a>
Worksport has shipped hundreds of displays to crucial dealer accounts across the United States. These retail display units will perpetually convert into dealer sales, representing a considerable long-term dealer-level growth objective, the company said in the press release.
These display units have generated a 31% conversion rate. Worksport&#8217;s sales team is working towards 100% sales conversion due to each retail display unit installed in dealer showrooms in the USA and Canada.
CEO Steven Rossi: &#8220;Our strategic deployment of display stands has not only expanded our dealer network but has also yielded an exceptional conversion rate of 31%.&#8221;
With over 17,000 dealers in the U.S., strong dealer interest signals a substantial opportunity for continued sales growth.
Worksport announced its first-ever B2B order from a customer in Puerto Rico, consisting of initial crates of hard and soft covers. This marks a significant expansion into new territories.
Following the recently announced production schedule of the AL4Premium Tonneau Cover, Worksport is beginning to book pre-orders from key dealer and distributor accounts in the USA and Canada.
Pre-ordering will end in November when the Worksport sales team expects significant early demand and orders.
The company said several top-tier national U.S.-based distributors are discussing pre-ordering the AL4, reflecting strong market confidence in the product.
Worksport will continue to expand its dealer network while attracting new distributors to enhance scale and market reach.
Price Action: WKSP stock closed higher by 8.05% at $0.7931 at Monday.
Also Read:
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41247240/exclusive-worksport-nears-launch-of-compatible-tonneau-covers-for-rivian-r1t-pickup" target="_blank" rel="noreferrer noopener">EXCLUSIVE: Worksport Nears Launch of Compatible Tonneau Covers for Rivian R1T Pickup</a></li>
</ul>

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