Pre-Market: Worksport Ltd. (NASDAQ: WKSP) Takes the Spot on the Market Crux Morning Watchlist

Sponsored* Market Crux Announces Worksport Ltd. (NASDAQ: WKSP) as  #1 on This Morning’s Watchlist! Here’s Why… Worksport Ltd. (NASDAQ: WKSP) is positioned in expanding markets, with the tonneau cover and portable power station sectors forecasted to see significant growth by 2030. Worksport Ltd. (NASDAQ: WKSP) combines advanced automotive accessories with clean energy innovations like the SOLIS solar cover and COR mobile generator, creating a niche few can match. Maxim Group analyst Tate Sullivan, CFA, has set a $1.50 price target on Worksport Ltd. (NASDAQ: WKSP), suggesting over 163% upside and highlighting confidence in its growth strategy. Q3 2024 revenue surged 581% year-over-year, building on 275% growth from Q1 to Q2 and another 63% boost in Q3. Revenue projections for 2025 range from $25M to $34.5M, with major launches like the AL4 tonneau cover, SOLIS solar cover, and COR  generator set to drive growth. Take a Look at Worksport Ltd. (NASDAQ: WKSP) before  this morning’s opening bell rings… November 21, 2024 Dear Reader, Backed by a series of catalysts, marked as a possible "short squeeze," and carrying an analyst target suggesting a potential upside of over 163%, this is one little-known company that’s impossible to overlook. Add to that a track record of impressive, double-digit moves, and it’s clear this profile deserves attention: 10/02: $0.3874 to 10/03: $0.50 — Approximate Move: 29% 10/08: $0.4817 to 10/09: $0.60 — Approximate Move: 24% 10/17: $0.5207 to 10/18: $0.7299 — Approximate Move: 40% 10/18: $0.5370 to 10/21: $0.85 — Approximate Move: 58% 10/23: $0.6601 to 10/24: $0.8097 — Approximate Move: 22% Not to mention, it recently delivered an approximate 44% move from $0.6511 on 11/06/2024 to $0.94 on 11/13/2024. It’s clear why our focus is now on Worksport Ltd. (NASDAQ: WKSP)—the top profile on tomorrow’s watchlist. Read on to discover what makes Worksport Ltd. (NASDAQ: WKSP) such an exciting company… Worksport Ltd. (NASDAQ: WKSP) is not just a company; it’s a catalyst for change in industries often seen as static.  With its origins rooted in producing tonneau covers for pickup trucks, Worksport Ltd. (NASDAQ: WKSP) has transformed into a symbol of innovation, blending practicality with sustainability.  This transformation isn’t happenstance—it’s the result of a decade-long commitment to challenging norms and redefining expectations. A Vision of Innovation Founded in 2011, Worksport Ltd. (NASDAQ: WKSP) began with a mission to elevate the ordinary.  Today, it is much more than a tonneau cover manufacturer.  By venturing into hybrid energy solutions like the SOLIS solar tonneau cover and the COR mobile battery generator, Worksport Ltd. (NASDAQ: WKSP) has positioned itself at the forefront of two booming sectors: automotive accessories and clean energy.  This dual-focus strategy showcases Worksport’s ability to not just adapt to market demands but to shape them. Setting the Pace in Growth and Innovation Worksport isn’t just participating in the market—it’s setting the pace. With a clear vision, an innovative product pipeline, and extraordinary revenue growth, the company continues to redefine industry standards while delivering results. It’s no surprise that Tate Sullivan, CFA, Managing Director and Senior Industrials Analyst at Maxim Group LLC, has set a $1.50 target on Worksport Ltd. (NASDAQ: WKSP), implying an upside potential of over 163% from today’s $0.51 open (11/20).  With extensive experience as a Senior Equity Analyst at Sidoti & Company, LLC, covering industries with energy and infrastructure exposure, Mr. Sullivan’s endorsement highlights Worksport Ltd. (NASDAQ: WKSP)’s potential to disrupt and excel in the automotive and clean tech sectors. Product Line: Built to Impress Tonneau Covers: The Gold Standard Worksport’s tonneau covers are setting the bar higher for quality and pro-fit-ability. These covers are not only made with precision but also bring in attractive pro-fit margins, ranging from 57% to 74%. Standout products include: SC3 PRO: Retailing at $349 with a 63% margin. SC4 PRO: A Made-in-America marvel with sleek designs and an impressive 74% margin. TC3: A pre-production cover priced at $699, blending versatility and innovation. SOLIS Solar Tonneau Cover Originally scheduled for a Q2 2024 release, this product is not just a tonneau cover—it’s a solar power station on wheels. SOLIS can extend a vehicle’s driving range by 9 miles and generate $668 in annual household energy savings. Even more impactful is its environmental footprint: every 100,000 units sold will save 112,000 tons of CO2 emissions—equivalent to removing nearly 20,000 cars from the road. COR Mobile Battery Generator The COR portable energy system takes versatility to new heights. Designed and built in North America, it boasts a modular design for hot-swappable batteries and is 25% lighter than competitors. From camping to emergency power needs, COR redefines portable energy solutions. The Market Landscape: Poised for Growth Worksport Ltd. (NASDAQ: WKSP) operates in high-growth sectors with immense potential. The global tonneau cover market is projected to reach $3B by 2027, with a CAGR of 8.6%. Similarly, the portable power station market is expected to hit $3.9B by 2030, further validating Worksport’s expansion into clean tech. With its innovative products and strategic pricing, Worksport is uniquely positioned to claim a significant share of these markets. Strategic Milestones Production Excellence Worksport Ltd. (NASDAQ: WKSP)’s production facility in New York is a game-changer. It began operations in 2023 and is scaling to produce over 200 tonneau covers daily by 2025, all without significant capital outlay. This level of efficiency sets the stage for both increased output and improved margins. Key Partnerships Worksport Ltd. (NASDAQ: WKSP)’s formal agreement with Hyundai to explore SOLIS integration into future electric pickups exemplifies its ability to partner with industry leaders. Additionally, the company is in active discussions with major North American and global brands, signaling strong demand for its products. Innovation and Intellectual Property Worksport Ltd. (NASDAQ: WKSP)’s IP portfolio, with over 150 assets globally, underpins its market leadership. From patents to trademarks, the company’s commitment to innovation ensures it stays ahead of the competition. Recent Developments: Momentum for the Future Worksport Ltd. (NASDAQ: WKSP)’s recent Q3 2024 results highlight its incredible growth trajectory. Revenue for the quarter surged 581% year-over-year to $3.12M, up from $458,433 in Q3 2023.  This follows a 275% revenue increase from Q1 to Q2 2024 and a further 63% boost from Q2 to Q3. With year-end 2024 revenue expected to surpass its earlier guidance of $6-8M, the company is on track for record-breaking results in 2025. Game-Changing Revenue Growth B2C sales have exploded, jumping from $21,599 in Q3 2023 to $1.59M in Q3 2024, accounting for 51% of total revenue. Worksport has also entered the government sales sector, with contracts secured with a U.S. agency, paving the way for long-term growth in this high-potential market. Powerful Product Pipeline The highly anticipated AL4 tonneau cover is set for a Q4 2024 debut and is expected to drive significant revenue in 2025. Additionally, the SOLIS and COR systems, entering their final testing phases, are scheduled for market launches in mid-2025. Ambitious 2025 Outlook Worksport projects revenue between $25M and $34.5M in 2025, driven by its diverse product portfolio and new launches. The company is also targeting ca-sh flow positivity, marking a significant milestone in its evolution. 5 Reasons to Keep Worksport Ltd. (NASDAQ: WKSP) on Your Radar 1. A Trailblazer in Two High-Growth Sectors: Worksport isn’t sticking to the status quo. By merging innovative automotive accessories like tonneau covers with clean tech solutions such as the SOLIS solar cover and COR mobile generator, the company is carving out a niche few can compete in. 2. Analyst Coverage: Worksport has caught the attention of industry experts, with Maxim Group’s Senior Industrials Analyst, Tate Sullivan, CFA, setting a $1.50 price target. This suggests an upside potential of over 163% from recent levels, highlighting confidence in the company’s growth strategy and market potential. 3. Unmatched Revenue Momentum: Q3 2024 was a breakout quarter, with revenue skyrocketing 581% year-over-year to $3.12M. This builds on a 275% increase from Q1 to Q2 2024 and a further 63% boost in Q3—a consistent trajectory of impressive growth. 4. Positioned to Dominate Expanding Markets: With the tonneau cover market forecasted to reach $3B by 2027 and the portable power station market expected to hit $3.9B by 2030, Worksport’s innovative and competitively priced products are poised to secure leading positions in these rapidly growing spaces. 5. Big Things Are Coming in 2025: With revenue projections between $25M and $34.5M, Worksport is on track to make 2025 a milestone year. The launches of the AL4 tonneau cover, SOLIS solar cover, and COR generator are expected to drive further growth and set new benchmarks for success. Worksport Ltd. (NASDAQ: WKSP) will be #1 on this morning’s watchlist… Worksport Ltd. (NASDAQ: WKSP) is redefining innovation in automotive and clean energy. By merging advanced automotive accessories with clean energy solutions like the SOLIS solar cover and COR mobile generator, the company is carving out a powerful niche. With a $1.50 price target from Maxim Group’s Tate Sullivan, CFA, suggesting over 163% upside potential, and a Q3 2024 revenue surge of 581% year-over-year, Worksport continues to prove its ability to deliver growth. Positioned in rapidly expanding markets and with major product launches planned for 2025, the company is poised for a breakout year. Worksport Ltd. (NASDAQ: WKSP) is positioning itself to lead the charge toward a future built on innovation, execution, and sustained momentum. Consider adding Worksport Ltd. (NASDAQ: WKSP) to your radar this week. Worksport Ltd. (NASDAQ: WKSP) will be #1 on our watchlist early this morning. Take a look at (WKSP) before the opening bell rings on today. I’ll check in with you shortly. Sincerely, Gary Silver Managing Editor, MarketCrux MarketCrux.com (“MarketCrux” or “MC” ) is owned by Headline Media LLC, a multi member limited liability company. Data is provided from third-party sources and MarketCrux is not responsible for its accuracy. Make sure to always do your own research and due diligence on any day and swing profile MC brings to your attention. Any emojis used do not have a specific defined meaning, and may be used inconsistently. We do not provide personalized in.vest.ment advice, are not in.vest.ment advisors, and any profiles we mention are not suitable for all in.vest.ors. The owners of Headline Media LLC own and operate marketcrux . com (“MC”). From time to time, MC will publicly disseminate information about a company via website, email, SMS and other points of media. 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