What happened Investors in Workhorse Group (NASDAQ: WKHS) did not have a good month in May. The electric delivery truck maker disappointed investors with its first-quarter results almost four weeks ago. But shares have rocketed more than 40% so far in June as the stock joined the ranks of meme stocks supported by retail investors. Today, however, shares are reversing course, trading down 12% as of 11:30 a.m. EDT. So what The biggest spike in Workhorse shares this week occurred yesterday, but trading volume has been increasing all week. The 30-day average daily trading volume has ballooned by almost 50% in the last several days when the stock joined the group of meme stocks favored by Reddit-users looking to pump share prices. Today, however, reality seems to be setting back in. Image source: Getty Images. Now what May's sharp decline came after a disappointing earnings report from the company. Workhorse only delivered six of its electric cargo trucks in the first quarter, bringing in revenue of $521,000. Yet the company had a market cap of more than $1.8 billion at Thursday's closing share price. As with other meme stocks, traders are banding together to move stock prices without considering business fundamentals. Those who drove up Workhorse shares this week look to be taking advantage of the stock surge and booking profits today, after taking note of the performance of the business itself. 10 stocks we like better than Workhorse GroupWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Workhorse Group wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of May 11, 2021 Howard Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source