By
Svetlana Soroka
April 18th, 2024
Over the past year, Ford stock has gained approximately 146.02% and is now up approximately 20.46% since the beginning of 2022.
Ford Motor Company (NYSE: F) stock closed January 13, 2022 trading at $25.02, up 2.25% from the day’s opening price. The rally continued during the extended period with approximately 1.16%, trading around $25.31. After two decades of a bear market, the all-time high is on-site and perhaps a new ATH in the cards.
Ford shares jumped about 4% as the automaker’s market cap topped $100 billion for the first time on Thursday. The rally comes as the company plans to increase electric vehicle production, including the Mustang Mach-E crossover and an upcoming electric version of its best-selling F-150 pickup. Deutsche Bank also named Ford one of its top 2022 auto stock picks.
Although 10X below Tesla Inc (NASDAQ: TSLA) in market capitalization, Ford appears to be ready for a strong comeback to the market. Wall Street is, ostensibly, optimistic with the company’s future growth prospects, despite not a full consensus.
According to market analytics provided by MarketWatch, the company’s market capitalization stood at approximately $97.79 billion at the time of reporting. With 3.93 billion shares outstanding, F stock reported an average volume of $103.06 million.
Over the past year, Ford stock has gained approximately 146.02% and is now up approximately 20.46% since the beginning of 2022. From a different standpoint, Ford shares have risen approximately 61.94%, and 22.95% in the past three months and one month respectively through Thursday according to MarketWatch.
Ford (F) Stock and the Market Outlook
The awakening of Ford stock has been a surprise to many. However, some think it is delayed and deserving attention, following its reputation over the past decades. The company has gained global recognition over the years, despite the rise in competition, particularly in the upcoming electric vehicle industry.
“The stock market’s attraction to the Ford EV story continues to take us by surprise,” Morgan Stanley analyst Adam Jonas told investors in a Thursday note called “Ford Market Cap Crosses $100bn: What’s In the Price?”
The company is allegedly in a close relationship with the Biden administration compared to Elon Musk’s Tesla. With the rise in electric vehicle companies, comes a new short-term risk to them all. Slow adoption of electric vehicles around the world. Whereby, wealthy nations project up to the next decade for a seamless transition.
“Ford’s share price movement is impressive and management deserves credit for changing the strategic narrative, triggering a re-rating. However, at this juncture, we believe the risks facing Ford and the sector are rising faster than the opportunity,” he added.