Ford Motor Company F shares are trading lower by 6.02% to $12.26 Friday afternoon after the company raised the price of its F-150 Lightning truck due to rising material costs, market factors and supply chain constraints.
Shares of auto and auto-related companies, including Ford, are also trading lower on continued downward momentum following Wednesday's Fed decision. The Fed raised rates by 50 bps and increased its federal funds rate projections while lowering its GDP outlook. These catalysts could negatively impact spending on non-essential products.
Our Benzinga team on Friday reported that the sharp decline in Ford’s stock means a bounce is likely on the horizon, although traders will want to watch for signals that the temporary bottom is in...Read More
What Happened?
The broader market is sliding again Friday after the Federal Reserve on Wednesday raised its target range for the federal funds rate by 0.5%, bringing the new target up to a range of 4.25% to 4.5%.
The Fed will continue to reduce its holdings of Treasury securities, agency debt and agency mortgage-backed securities on a monthly basis. The committee anticipates that ongoing increases in the target range will be appropriate to return inflation to its 2% goal over time...Read More
According to data from Benzinga Pro, Ford Motor Company has a 52-week high of $25.87 and a 52-week low of $10.61.
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