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Ford’s share price exceeds $ 20 per share for the first time in over 20 years

Ford CEO Jim Farley speaks with reporters outside the company’s World Headquarters in Dearborn, Michigan, on May 19, following the debut of the electric F-150 Lightning pickup truck.

Michael Wayland / CNBC

Detroit – Ford Motor For the first time since September 2001, shares price exceeded $ 20 per share as investors increasingly believed in CEO Jim Farley’s turnaround plan.

Ford’s stake has tripled from less than $ 7 per share since Farley dominated automakers last October. Ford shares rose 5.9% to $ 20.42 per share during Monday morning trading.

Ford’s inventory has skyrocketed about 127% so far this year. This is much higher than other automakers such as General Motors, up 42% and Tesla up 68% this year.

Such a rally missed Ford’s last two CEOs.Significant delay in stock price Contributed to departure Of Farley’s past two predecessors, Mark Fields and Jim Hackett.

This isn’t one of Farley’s actions, but the parade of big moves over the past year or so has once again brought automakers to the attention of investors. The actions that are part of Farley’s Ford + Turnaround Plan ranged from restructuring to announcing the automaker’s management team. Billions of dollars In autonomous and electric vehicles.

“With clear evidence of a significant shift in progress at Ford, Ford has set a new track record in financial outperformance, demonstrating the transition to EV / AV / digital. The world is accelerating rapidly. There is. “

Most recently, Ford announced on Thursday plans to buy back up to $ 5 billion in high-yield bonds as part of a broader plan. Rebuild your balance sheet.

Last month, Farley told CNBC: Ford shares are “absolutely” As your turnaround plan continues, you have more room to execute.

“There is growing confidence that Ford will be one of the winners of this new digital transformation in the industry,” he said in a telephone interview. Plan to invest $ 11.4 billion Battery and car production in the United States. “We have many incredible benefits.”

Besides the more difficult pivots and turnaround plans for EVs, Farley is a former Tesla Apple Executive Doug Field And Mike Amend, who recently served as online president Loews..

https://www.cnbc.com/2021/11/08/fords-stock-tops-20-a-share-for-first-time-in-more-than-20-years.html Ford’s share price exceeds $ 20 per share for the first time in over 20 years

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