Is Ford Stock a Buy After Boosting Electric F-150 Production?
Ford Motor Company (NYSE: F) is traditionally a slow-moving stock -- but not Tuesday. Shares have surged by more than 10% since the company announced this morning that it is preparing to boost its production capacity for the upcoming F-150 Lightning electric pickup to about 150,000 trucks per year.
That's nearly four times the capacity that Ford had originally planned for its first electric pickup truck. The decision follows an all-out effort by Ford and its key suppliers to respond to huge consumer interest in the Lightning: Ford closed the Lightning's reservation system after receiving nearly 200,000 preorders from retail customers (along with additional interest from its commercial-fleet customers).
Ford also confirmed (again) on Tuesday that the F-150 Lightning is on track to begin shipping in the spring. The first group of retail reservation holders will be invited to convert their reservations into actual orders later this week.
Source Fool.com
