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ADVICE – Ford Motor’s Stocks on Monday added their best month since the Great Recession in 2009, signaling a significant upswing for the automaker this year.
Shares of the Detroit automaker closed Monday at $15.34, up 4.4%. Earnings added to the stock rose 31.9% in July – marking the best monthly percentage gain for Ford’s stock since 127.4% in April 2009, when the automaker automobiles are emerging from the Great Recession without going bankrupt like its competitors. Synthetic engine and then-Chrysler.
Ford’s stock performance last month was boosted by a series of product-related announcements, including Ensure battery supply for its upcoming electric vehicles, as well as a 14.6% increase last week as the company reported second-quarter results that beat Wall Street’s expectations.
Last week, Ford also reiterated its previous guidance for the full year and said it would increase its quarterly dividend to 15 cents per share, the amount it paid before the Covid-19 pandemic.
Ford significantly outperformed GM, up 14.2% last month, as did other automakers on the U.S. list such as Stellar (up 16.3%), Ferrari (up 15.1%) and Toyota Motor (up 5.5%). It cannot outperform others such as Rivianup 33.3% last month and Teslaup 32.4%
Ford stock is still down about 26% in 2022, after top growth stocks among automakers listed in the United States last year.