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Non-Tech : Ford Motor Company
F 13.01-0.9%9:30 AM EST
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From: Glenn Petersen1/13/2022 2:07:08 PM
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Ford’s market cap tops $100 billion for first time ever

PUBLISHED THU, JAN 13 202211:25 AM EST
UPDATED 2 MIN AGO
Michael Wayland @MIKEWAYLAND
CNBC.com

KEY POINTS

-- Ford’s market value topped $100 billion for the first time ever, as the automaker’s stock hit a new 52-week high Thursday.

-- The company’s shares jumped by as much as 5.7% to $25.87, continuing a more than 20-year high for the automaker’s stock price.

DETROIT – Ford Motor’s market value topped $100 billion for the first time ever as the automaker’s stock hit a new 52-week high Thursday.

The company’s shares jumped by as much as 5.7% to $25.87, hitting another 20-plus-year high. Its market value was about $102 billion as of 1:50 p.m. Thursday.

The gains have been fueled by Ford’s plans to increase production of electric vehicles, including the Mustang Mach-E crossover and an upcoming electric version of its bestselling F-150 pickup that’s due out this spring. The efforts are part of a Ford+ turnaround plan led by CEO Jim Farley, who took over the helm in October 2020.

Ford’s now worth more than crosstown rival General Motors, at about $90 billion, as well as electric vehicle start-up Rivian Automotive, at $75 billion, which has failed to sustain gains following a blockbuster IPO in November. Ford continues to significantly trail Tesla, which has a market cap of more than $1 trillion.

Ford's market cap tops $100 billion for first time ever (cnbc.com)
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