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Ford becomes best performing stock among automakers in 2021
By Shubhangi Mathur - Jan 04, 2022, 02:37 AM ET
Last Updated - Feb 13, 2024, 01:20 PM EST
Ford reported its largest single-day share increase on December 10 when the company said it would triple production of the electric Mustang Mach-E
• Shares of Ford Motor surged roughly 140% last year
• Ford reported its largest single-day share increase on December 10 when the company said it would triple production of the electric Mustang Mach-E
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Shares of Ford Motor surged roughly 140% last year becoming the best performing stock among automakers, beating its rival Tesla and General Motors.
This comes under the leadership of auto veteran Jim Farley who was appointed in October 2020. Farley shifted focus towards building electric vehicles including upcoming F-150 Lightning pickup.
Ford reported its largest single-day share increase on December 10 when the company said it would triple production of the electric Mustang Mach-E to more than 200,000 units per year for North America and Europe by 2023.
Shares of the company jumped 9.6% to $21.45 a share on that day, which was roughly 20-year high.
Shares of Ford jumped 8.7% on October 28 when the automaker delivered its third-quarter earnings, raising its yearly guidance.
Shares rose 8.5% on May 26 during the automaker’s investor day and release of details of Ford+ restructuring plan.
Stocks of the company have climbed more than 200% since Farley has been appointed. Shares closed at $20.77 last year.
According to FactSet, Ford is rated overweight with a price target of $20.25 a share and a long-term growth rate of 67.8%.
Picture Credits: Getty Images
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