Between the start of the year and mid-July, shares of Ford Motor Company (NYSE: F) soared 31%, only to tank 17% in the past couple months. It looks like pessimism around the business is in full effect. The roller coaster ride might make some uneasy, especially since Ford has posted solid financial results recently.
Should investors buy this top auto stock right now on the dip? There's a lot to know about what's going on with this company before making a decision. Let's take a closer look at Ford.
It's easy to get excited about Ford based just on its strong financial performance in 2023. Take the first three months of the year. The business posted revenue of $41.5 billion (up 20% year over year) and diluted earnings per share (EPS) of $0.44, a huge reversal from the $0.78 loss in the year-ago period. And in Q2, Ford's sales were up 12%, with diluted EPS nearly tripling from Q2 2022.
Source Fool.com