3 Reasons to Pass on Ford Stock in 2024
Priced at less than 8 times next year's expected per-share earnings, there's no denying Ford Motor Company (NYSE: F) stock offers tremendous value right now. The dividend yield of 5% isn't too shabby either.
However, this is a company facing too many challenges that could keep bullishness in check as the market approaches 2024. Interested investors may want to hold off on a new position until Ford is clearly able to get past three specific headwinds.
The good news is that the U.S. auto industry's third-quarter sales of new cars was up 16% year over year, according to data from CleanTechnica. The bad news is that Q3's domestic auto sales are still down from pre-pandemic levels. We're seeing the same bigger-picture weakness on a worldwide basis too.
Source Fool.com
