The value of Ford stock jumped five percent during the April 22nd, 2024 – April 25th, 2024 timeframe. Shares closed the week at $12.79, which represented a five percent boost, or $0.65 increase in value compared to the prior week’s closing value of $12.14.
Movement & Ranges
| Date | Open | Close/Last | High | Low |
|---|---|---|---|---|
| Date | Open | Close/Last | High | Low |
| 04/26/2024 | $12.76 | $12.79 | $13.02 | $12.61 |
| 04/25/2024 | $12.85 | $13.04 | $13.18 | $12.63 |
| 04/24/2024 | $12.94 | $12.95 | $13.05 | $12.78 |
| 04/23/2024 | $13.05 | $12.94 | $13.05 | $12.82 |
| 04/22/2024 | $12.31 | $12.88 | $12.90 | $12.25 |
By comparison, shares of General Motors jumped in value by $3.47, or just under eight percent, during the same timeframe.
The drop in Ford share values during the week follows a four percent decrease from last week, which in turn followed a five percent increase during the preceding five day trading period.
Ford releases its Q1 2024 earnings report during the week, reporting $1.3 billion in income on $42.8 billion in revenue.
Ford CEO Jim Farley has been steadfastly outlining The Blue Oval’s future since assuming the role in October 2020. The company’s key goals and organizational changes include:
- An expansion and spinoff for Ford’s leading commercial vehicle business with a suite of software services that drive loyalty and recurring revenue streams.
- An alliance with German automaker Volkswagen.
- Adding more affordable vehicles to Ford’s global lineup, including in North America.
- Having Ford Europe transition to zero-emissions vehicles by 2027 and switch completely over to full EVs by 2030.
- The launch of Ford Ion Park, a facility designed to facilitate R&D initiatives on battery production.
- An investment in Solid Power, a producer of solid-state batteries.
- BlueOvalSK, a joint venture between Ford and SK Innovation, Ford’s preferred supplier of EV batteries, which will bolster Ford’s EV manufacturing ambitions, specifically at two upcoming facilities expected to come online in 2026
- A partnership with Google that will transform the company’s manufacturing operations and see future Ford Motor Company vehicles sport Android-powered infotainment systems.
- Buyout programs for employees involved in legacy ICE powertrain and platform development and general workforce reductions to cut costs amid the EV pivot.
- Realigning markets according to what’s outlined in the Ford+ plan, which seeks cost reductions in underperforming regions such as South America and India, in addition to reducing overall headcounts via attrition.
- Supporting green initiatives with a comprehensive sustainable financing framework.
- Working with semiconductor manufacturer GlobalFoundries to secure additional microchips for its vehicles.
- Securing batteries from multiple companies wherever possible.
- Developing Ford Pro as a one-stop shop for commercial fleet management as it relates to fully electric work vehicles.
- Further strengthening its digital and connected services by entering into collaborations with companies like Stripe and ADT for payment systems and vehicle security, respectively.
- The creation of Ford Blue and Ford Model e, two divisions tasked with gasoline and fully electric vehicle development, respectively.
- Making current and future Ford EVs more compatible with the Tesla Supercharger network via a new agreement.
- Flexible EV production timing as demand for battery electric vehicles remains unpredictable.
- The development of a third, low-cost EV platform to head off Chinese competition.
- A streamlined EV production rollout and the ability to offer hybrid powertrains across its entire lineup by 2030.
Stock Performance Year-To-Date
| Month | Opening Value |
|---|---|
| January 2nd | $12.04 |
| February 1st | $11.82 |
| March 1st | $12.53 |
| April 1st | $13.33 |
Ford share values are now six percent percent higher when compared to the first day of trading in 2024. Wall Street continues to grapple with how it should evaluate legacy automakers in the wake of the ongoing EV transition. That said, Ford has frequently shifted its EV product plans and goals, likely adding to skepticism from investors. It has now settled on an “everything for everyone” approach to its lineup that gives buyers a choice between gas, hybrid, and all-electric vehicles.
We’ll be here to report the latest developments about Ford stock, so be sure to subscribe to Ford Authority for ongoing Ford stock news and around-the-clock Ford news coverage.
Comment
Thanks. I am very pleased that Ford Authority is lately including more stories about Ford’s financials and stock performance. Many of us loyal Ford owners are also F stockholders.