Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
Sales of Ford's iconic Mustang brand not only fell last month but it was outsold by the Chevrolet Camaro for the first time in nearly two years, according to Bloomberg. As such, Ford will idle its factory in Flat Rock, Michigan, to better align capacity with demand.
The plant employs 3,702 workers and also manufacturers Lincoln Continentals. As part of a labor agreement, workers will still be paid during the week-long shutdown and production will resume on October 17.
Related Link: Chrysler Averts Strike, Reaches Tentative Deal With Unifor
So far this year, Ford has sold 87,258 Mustangs, which marks a 9.3 percent dip compared to the same period a year ago.
Bloomberg suggested that the plant's shutdown could be a sign of the auto market's "growing weakness." In fact, automaker's monthly sales metrics have been coming in short of expectations and it is unclear if the auto industry as a whole will match last year's record of 17.5 million vehicles sold.
Shares of Ford have lost more than 13 percent since the start of 2016 nearly 19 percent over the past year. This compares unfavorably to General Motors Company (NYSE: GM)'s stock, which has lost 5 percent since January 1 and just 2 percent over the past year.
Full ratings data available on Benzinga Pro.
Do you have ideas for articles/interviews you'd like to see more of on Benzinga? Please email feedback@benzinga.com with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card!Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.