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Why Ford Stock Has Been Charging Higher This Week

TheMotleyFool

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Why Ford Stock Has Been Charging Higher This Week: https://g.foolcdn.com/editorial/images/703916/fordf-150lightningjpg.png

Ford (NYSE: F) stock bounced this week after an extended slide that saw it drop more than 25% in less than a month. But investors seemed to feel that was at least a short-term bottom, and they have pushed shares up 9.1% this week as of early Friday trading, according to data provided by S&P Global Market Intelligence.

The reversal was sparked after the company released its September sales report. Investors cheered that Ford said its EV sales nearly tripled year over year in September. It added that its total share of the EV segment has reached 7%. The EV segment growth was led by its F-150 Lightning, but even the Mustang Mach-E sales had increased 47.3 percent compared to last year.

Source Fool.com

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