Why Shares of Ford Hit the Accelerator in October
Shares of Ford Motor (NYSE: F) gained 16.1% in October, according to data provided by S&P Global Market Intelligence, thanks in large part to the company's better-than-expected third-quarter results. The stock got a jump-start early in the month after a Wall Street analyst predicted strong earnings, and another boost toward the end when the company delivered.
Ford and other automakers have had a complicated year, with the stock off about 50% year to date early in the pandemic before recovering to "only" be down 17% at the end of October. COVID-19 has had a real impact not only on auto sales but on production as well, and the disruption has weighed heavily on the stock.
Image source: Ford Motor.
Source Fool.com
