Why Ford Stock Popped Today
General Motors (NYSE: GM) got a lot of press for its investor day yesterday, but it is Ford's (NYSE: F) stock that is leading the way today, climbing as much as 5.9%. At the close, it hadn't lost much of those gains, remaining up 5.6%.
Yesterday, CNBC reported that GM told investors it was heading full bore into the world of electric vehicles, and with a recurring revenue strategy, it expects it to double annual sales by 2030. But investors today seemed to be thinking that rival Ford may be the better EV play.
Ford announced last week that it is investing more than $11 billion to build an EV and battery manufacturing "mega campus" in Tennessee, as well as two other battery plants in Kentucky, along with Korean partner SK Innovation.
Source Fool.com
