Ford Motor Co. stock has risen over the past four weeks, marking the carmaker’s best stretch since the months leading up to the Great Recession in 2008 and 2009, according to data compiled by Bloomberg. On Monday, it hit its highest point since February 2014. The shares’ 20 percent rise this year comes as Ford raised its full-year profit forecast last month, citing strong consumer demand for new SUVs and trucks in North America and China along with continuing improvements in Europe and South America.
Ford Motor Co.’s Stock Added to its Best Month Since The Great Recession
Ford Motor Company’s stock price jumped significantly on Monday to the highest point it has been since 2009, indicating that the American automobile maker is doing significantly better in the current year.
Shares closed at $15.34 today, up 4.4%. The gains so far this month mean that this share has gone up by 31.9% so far this month. It was the best monthly percentage gain for Ford shares since 127.4% in April 2009, when Ford was coming out of the Great Recession without having to go through bankruptcy like its competitors General Motors and then-Chrysler. Ford’s performance this month was fueled by a consistent stream of product-related announcements including securing a supplier for batteries for its upcoming electric vehicles, a rise of 14.6% last week as the company reported strong results that surpassed Wall Street’s expectations for the second quarter.
Ford Announced Last Week That it Would Increase its Quarterly Dividend to 15 Cents
Last week, Ford announced it will increase its quarterly dividend to 15 cents. Prior to the Covid-19 pandemic, this is what the company paid. Ford significantly outperformed its counterparts in the automotive industry such as GM, which was up by 14.2% last month, as well as the other automakers listed on the US Stock Exchange such as Stellar, which was up 16.3%, Ferrari, up 15.1%, and Toyota Motor, up 5.5%. It wasn’t a popular success in comparison to Rivian which gained 33.3% last month and Tesla, which had an increase of 32.4%.
Ford stocks are down about 26% in 2022 after exceeding the performance of all NYSE-listed automakers last year.