Why Ford Stock's Crash This Week Makes Little Sense
Ford (NYSE: F) stock was off to a rough start in April; it tumbled 9% this week through 3 p.m. ET Friday, according to data provided by S&P Global Market Intelligence. So far this month, Ford has already given investors several reasons for being worried.
The ongoing supply crunch in the automotive industry isn't anything new, but even a legacy automaker like Ford has been struggling to navigate the challenges for several quarters now. Unfortunately for investors, Ford confirmed the supply woes are far from over when it suspended production at its Flat Rock assembly plant in Michigan this week, citing a shortage of semiconductor chips. This isn't the first time Ford had to shut this plant because of supply issues.
Just a few days ago, Ford said it will recall 737,000 vehicles, including versions of the Ford Escape SUV and Bronco Sports SUV, to fix oil leaks.
Source Fool.com
