Shares of Workhorse Group Inc.
WKHS,
-6.83%

dropped more than 4% in midday trading Wednesday after a Wall Street Journal report that securities regulators opened an investigation into the company, which makes electric “last mile” delivery vans and utility vehicles and is based in Cincinnati. Workhorse did not immediately respond to a request for comment. The company last month said it had booked a $52 million loss as it sold some of its investments in electric pickup-truck maker Lordstown Motors Corp.
RIDE,
-1.22%

Workhorse shares have lost 52% this year, contrasting with gains of 21% for the S&P 500 index.
SPX,
+0.03%

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