Ford’s market cap tops $100 billion for first time ever


In this article


Ford Motor Co. CEO Jim Farley walks to speak at a news conference at the Rouge Complex in Dearborn, Michigan, September 17, 2020.
Rebecca Cook | Reuters

DETROIT – Ford Motor’s market value topped $100 billion for the first time ever as the automaker’s stock hit a new 52-week high in Thursday morning trading.

Ford’s shares jumped by as much as 4.6% to $25.59, hitting another 20-plus-year high. Its market value was about $102 billion as of 11:10 a.m. Thursday.

The gains have been fueled by Fords’ plans to increase production of electric vehicles, including the Mustang Mach-E crossover and an upcoming electric version of its best-selling F-150 pickup that’s due out this spring. The efforts are part of a Ford+ turnaround plan led by CEO Jim Farley, who took over the helm in October 2020.

Ford’s now worth more than crosstown rival General Motors, at about $90 billion, as well as electric vehicle start-up Rivian Automotive, at $75 billion, that has failed to sustain gains following a blockbuster IPO in November. Ford continues to significantly trail market cap-leader Tesla at more than $1 trillion market cap.

Biden deploys military medical teams to hospitals in six states as omicron disrupts essential services

Previous article

These four factors could drive quarterly earnings for JPMorgan and Wells Fargo

Next article

You may also like


Leave a reply

Your email address will not be published.

More in News