2023 Ford F-150 Raptor R
stronghold
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.
“Beer buff. Devoted pop culture scholar. Coffee ninja. Evil zombie fan. Organizer.”
More Stories
Oil drops as China data weighs
Chinese economic data, Japanese GDP misses expectations
Elon Musk says Tesla has built more than 3 million cars