Here's Why Ford Stock Is Racing Higher Today

Ford Motor Company F shares are trading higher amid optimism surrounding the company's F-150 Lightning vehicle. CEO Jim Farley earlier indicated the company has seen over 44,500 reservations in less than 48 hours.

See Also: Ford Unveils F-150 Lightning Priced Starting $40,000, Elon Musk Congratulates Company On 'Embracing An Electric Future'

Ford manufactures automobiles under its Ford and Lincoln brands. The company has about 14% market share in the United States and about 7% share in Europe. Sales in North America and Europe made up 69% and 19.5% of 2020 auto revenue, respectively.

Ford's stock traded higher by 7.7% to $13.46 at publication time.