On Friday, Ford Motor Company (NYSE: F), an American multinational automobile manufacturer, is experiencing a significant upward trend in its stock price, leaving investors intrigued. There are a few key factors contributing to this surge, and here’s what you need to know.
Firstly, rumors are circulating that Ford Motor Company is planning to incorporate Tesla, Inc. (NASDAQ: TSLA) plug into their electric vehicles, which has generated excitement among investors. In addition, the overall market is experiencing an upward trend due to hopes surrounding the debt ceiling.
However, it’s important to note that Ford’s stock has been volatile in recent years. On October 10, 2022, the stock price dropped significantly to $12.20, marking a 47.82% decrease from its value in early January 2022, when it was at $21.77.
While some analysts predict a potential decline below $10 in the near future, others believe that Ford Motor Company is currently undervalued and could present a good long-term investment opportunity for those willing to endure further downward movements. According to the consensus view of 21 Wall Street analysts, Ford is currently rated as a ‘hold’ and could potentially rise to $17.77 within the next year.
Wallet Investor, a financial website, also sees Ford as a promising long-term investment, projecting a potential rise to $14.02 by October 2023. However, they caution that the stock could also decline to $10.
It’s worth noting that Ford Motor Company has been investing billions of dollars in its transition to electric vehicles throughout May 2023. This strategic move may have an impact on the company’s stock price in the future.
Today, Ford Motor Company (F) stock opened at $11.59, showing an increase from the previous day’s closing price of $11.38. The stock experienced fluctuations throughout the day, ranging from $11.54 to $12.29. The trading volume reached 71,827,338 shares, surpassing the three-month average volume of 65,370,235 shares. Ford Motor Company’s market capitalization currently stands at $45.49 billion.