Why Ford Stock Turned Positive Today
Ford (NYSE: F) shares dropped nearly 3% Thursday morning as markets reacted to the Labor Department's latest monthly inflation data. But by 12:50 p.m. ET, the stock reversed course with a gain of 1.2%. That also followed a market reversal, but it also reflects how different investors are thinking about Ford stock from different perspectives.
There was good reason to think Ford shares would drop on the worse-than-expected inflation data. Ford is in the beginning stages of its transition to a company with three separate segments, and many investors are focusing on the electric vehicle (EV) segment. Ford CEO Jim Farley has announced plans to invest $50 billion to grow its EV production to an annual run rate of 600,000 by the end of 2023 and 2 million just three years later.
Image source: Ford.
Source Fool.com
