Friday, August 19, 2022
HomeUS NewsFord stock notches its best month given that Good Recession – and...

Ford stock notches its best month given that Good Recession – and retains rising – IHNS

2023 Ford F-150 Raptor R


DETROIT – Ford Motor’s stock on Monday added to its best month given that Good Recession in 2009, signaling an enormous swing for the automaker this 12 months.

Shares of the Detroit automaker closed Monday at $15.34, up 4.4%. The options added to the stock rising by 31.9% in July – marking top-of-the-line month-to-month share obtain for Ford’s shares since 127.4% in April 2009, when the automaker was rising from the Good Recession with out going by way of chapter like its crosstown rivals Frequent Motors and then-Chrysler.

Ford’s stock effectivity ultimate month was pushed by a mild stream of product-related bulletins, along with securing battery gives for its upcoming electrical vehicles, along with a 14.6% improve ultimate week amid the company reporting second quarter outcomes that beat Wall Avenue’s expectations.

Ford ultimate week moreover reiterated its earlier steering for the whole 12 months and said that it’ll improve its quarterly dividend to fifteen cents per share, the amount it paid sooner than the Covid-19 pandemic.

Ford significantly outperformed GM, which was up by 14.2% ultimate month, along with completely different U.S.-listed automakers resembling Stellantis (up 16.3%), Ferrari (up 15.1%) and Toyota Motor (up 5.5%). It didn’t outperform others resembling Rivian, which was up 33.3% ultimate month, and Tesla, up 32.4%

Ford’s stock stays off by about 26% in 2022, after being the prime growth stock amongst U.S.-listed automakers ultimate 12 months.

– .C’s John Rosevear and Michael Bloom contributed to this report.


Most Popular