Why Ford Stock Popped -- Then Dropped
Ford Motor Company (NYSE: F) stock raced ahead in noonday trading on the NYSE Friday, notching a 2.2% gain after reporting a third straight month of sales growth.
Ford stock quickly gave back those gains as the afternoon wore on, however. As of 1:40 p.m. ET, the stock is back in the red with a 0.5% loss.
In Ford's August sales report, released this morning, the company noted that its total sales for the month surged 27.3% year over year, with highly profitable trucks and SUVs up 13.2% and 47.7%, respectively -- and sales of electric vehicles up more than 307%! (It's probably worth pointing out, though, that 307% sales growth means Ford still sold fewer than 6,000 EVs in the month.)
Source Fool.com
