Why Ford Stock Rose to a Multi-Decade High Today
Shares of Ford Motor Company (NYSE: F) climbed above $25 on Thursday, a level they last hit in 2001. By the close of trading, the 118-year-old car and truck manufacturer's stock price was up 2.3% after rising as much as 5.7% earlier in the day.
Ford's share price has soared 155% over the past year, according to data from YCharts. Investors have applauded the automaker's growth strategy. Jim Farley, who became CEO on Oct. 1, 2020, has placed electric vehicles (EVs) at the center of the company's expansion plans.
Battery-powered versions of Ford's popular F-150 pickup truck and Mustang sports car have met with an exceptional response from consumers. Demand has been so strong that Ford recently announced it would double production of its F-150 Lightning to 150,000 trucks per year.
Source Fool.com
