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Ford (F) stock price is unstable while the company is preparing to produce 50,000 GE ventilators in collaboration with Generic Electric to help coronavirus patients.
Ford Motor Company (NYSE: F) stock fell 3.08% on March 30, to trade at $5 per stock. But today it is trading with a 1.39% rise at $5.10. As with most U.S. stock markets at the moment, Ford (F) stock has recovered from the previous free fall thanks to the coronavirus stimulus package meant to cushion the market from further tumbling. Ford stock has been falling continuously since the onset of the coronavirus outbreak. As a result, it has fallen almost to retest the 2008 market crash, where it traded at around $2.
However, there are hopes that the stocks will recover and retest the all-time high in the near future after the company confirmed it will be collaborating with Generic Electric (NYSE: GE) to make GE ventilators. The company announced that by July 4, it will deliver 50,000 GE ventilators to help coronavirus patients.
Ford on Coronavirus GE Ventilators
The exercise is set to begin on April 20, at its Michigan factory, whereby it is targeting to deliver 30,000 new ventilators per month. According to the Motley Fool report, there will be 500 employees who will be working round the clock in three shifts. The venture has been supported by the United Auto Workers Labor Union, hence showing the dire need of the equipment on the ground.
GE Ventilators are critical machines that assist coronavirus patients to breathe with ease, however, it is not the cure as others confuse. It will be a huge breakthrough for the American people, where the virus has turned it to an epicentre.
At the time of writing, the number of infected people in the United States stood at 122,653, according to data by the Center for Disease Control and Prevention. The ventilators which were earlier approved by the FDA will go a long way in helping the sick patients recover.
According to a statement by ford, it is expecting to ship the first batch of ventilators by the end of April.
Will It Boost Ford Stock Price?
Ford and its stock have been struggling to rise since late 2013, long before coronavirus even was thought to exist. However, the coronavirus pandemic pushed the free fall button, resulting in the stock plummeting within a month.
As a result, all the gains which were made during the post-2008 market crisis have almost been wiped out. Investors have been shying away from its stock since then, however, things may turn around very quickly. If the deals continue, fueled by the coronavirus uncertainty, then it may be the much-needed catalyst to push the ford stock market to the ceiling.