24/7 Market News Snapshot 27 March, 2025 – Worksport, Ltd. Common Stock (NASDAQ:WKSP)

March 27, 2025

DENVER, Colo., 27 March, 2025 (247marketnews.com) – (NASDAQ:WKSP) are discussed in this article.
Worksport, Ltd. (WKSP) has demonstrated significant momentum in pre-market trading, currently priced at $4.333, reflecting an increase of 18.07% from the previous close of $3.670. The trading volume of 1.20 million shares indicates strong investor interest, which may be spurred by recent advancements or favorable market conditions relating to the company’s innovative offerings. Such a substantial price increase is drawing attention and could entice technical buyers as they observe potential resistance levels above $4.50 and support around the previous session’s closing price.

In addition to strong market performance, Worksport has announced remarkable financial achievements for the fiscal year 2024. The company, known for its groundbreaking approach to hybrid and clean energy solutions, reported net sales of $8.48 million, a staggering increase of 455% compared to $1.53 million in 2023. This growth can be attributed to escalating online direct-to-consumer sales and a broadening scope of business-to-business relationships that reflect a successful enhancement of U.S. manufacturing operations.

The fourth quarter of 2024 was particularly noteworthy, with net sales reaching $2.93 million, a 250% year-over-year increase, exceeding prior revenue expectations. Worksport also highlighted substantial margin expansion, nearly tripling gross margins by the close of Q4, and anticipates achieving gross margins between 25% and 30% by the end of fiscal 2025. The year-end cash and equivalents stood at $4.88 million, supporting a projected revenue increase ranging from $20 million to $34.5 million for 2025.

CEO Steven Rossi expressed his enthusiasm regarding the company’s trajectory, emphasizing a strategic focus on scaling production and launching innovative products, including new tonneau covers and solar-integrated solutions, aimed at ensuring sustainable profitability and addressing the growing market demands for clean energy solutions.

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