Does Today's Drop Make Ford Stock a Buy?
Ford Motor Company (NYSE: F) is just beginning its transformation that will restructure the company into three distinct business units. The Ford+ plan includes an electric vehicle (EV) unit, a legacy internal combustion group, as well as a group solely focused on its commercial customers.
The plan was spurred by its adoption of an EV lineup that has just started production of the electric Lightning version of the popular F-150 pickup truck. Ironically, though, Ford just announced a $3.1 billion net loss in its first quarter thanks mostly to its investment in another EV company. But Ford's investment in Rivian Automotive is really just a paper loss, and investors should focus on what the company had to say about its own business in the first quarter and beyond.
Image source: Ford Motor Company.
Source Fool.com
