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

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

Ford has been one of the best-performing stocks in recent months, and its market cap is now above $100 billion.

The market value of Ford Motors has reached $100 billion for the first time in the company’s history. This latest development comes after the company’s stock price hit the $25 mark earlier today.

The company’s market cap reached $102 billion earlier today before sliding back to the $98 billion mark a few hours ago. The rally comes as the company said it plans to increase the production of electric vehicles.

Ford is planning to increase the production of its Mustang Mach-E crossover and an upcoming electric version of its F-150 pickup that is expected to be launched this spring. CEO Jim Farley launched Ford+ in a bid to make the company more competitive since taking over the helm in October 2020.

Ford’s latest development means that it is now worth more than crosstown rival General Motors. It is also worth more than the electric vehicle start-up Rivian Automotive, which has underperformed since experiencing a massive rally during its IPO.

Morgan Stanley analyst Adam Jonas said analysts are still surprised by the attraction of investors to the Ford electric vehicle story. He said;

“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.”

Market analysts rate Ford’s stock as overweight with a price target of $21.83 a share. The company is expected to perform better over the coming months, thanks to its turnaround story.

Over the past 12 months, Ford’s stock price has grown by 157%, outperforming numerous vehicle manufacturers in the market. Although Tesla remains the market leader in the EV sector, Ford wants to provide it with stiff competition.

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