August 15, 2022

Ford shares recorded their best month since the Great Recession

Ford shares recorded their best month since the Great Recession

2023 Ford F-150 Raptor R

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Detroit – Ford Motor Stocks added Monday to their best month since the Great Recession of 2009, suggesting a big swing for the automaker this year.

Shares of the Detroit automaker closed Monday at $15.34, up 4.4%. The gains added to shares that rose 31.9% in July — marking the best monthly percentage gain for Ford shares since 127.4% in April 2009, when the automaker was emerging from the Great Recession without going through a bankruptcy like its crosstown rivals. General motors Then Chrysler.

Ford’s stock performance last month was driven by a steady stream of product-related announcements, including Battery supplies insurance For upcoming electric vehicles, plus a 14.6% increase last week amid the company announcing second-quarter results Exceeding Wall Street Expectations.

Ford last week also repeated its previous full-year guidance and said it would increase its quarterly dividend to 15 cents a share, the amount it paid before the Covid-19 pandemic.

Ford significantly outperformed General Motors, which rose 14.2% last month, as well as other US-listed automakers such as Stilants (16.3% increase), Ferrari (15.1% increase) and Toyota Motor (5.5% increase). Fail to outperform others like Rivianwhich rose 33.3% last month, and Teslaan increase of 32.4%

Ford stock is still down about 26% in 2022, after it was Top growth stock Among the automakers listed in the United States last year.

– CNBC channel john rosifer And the Michael Bloom Contribute to this report.