- The stock price of Ford Motor Company (NYSE: F) fell from a previous close of $11.62 to a day low of $11.23 during intraday trading. This is why it happened.
The stock price of Ford Motor Company (NYSE: F) fell from a previous close of $11.62 to a day low of $11.23 (3.36% decrease) during intraday trading. Investors were responding to a report from the company about the U.S. April vehicle sales and analyst research reports.
In a report published today, Ford said that its retail sales increased in April by 57% compared to April 2020. And the retail truck and SUV sales were up 70% — which provided “Ford Truck and SUV sales with their best April retail sales performance since 2006.”
Ford’s total sales hit 197,813 in April — up 65% from 120,044 a year earlier. And Ford’s EV sales registered a record monthly high of 11,172 — which is up 262% compared to the year earlier.
The Mustang Mach-E sales hit 1,951, the F-150 PowerBoost sales totaled 3,365, and Escape sales hit 3,695.
This morning, Citi analyst Itay Michaeli lowered the price target on Ford to $13.00 (from $13.50) while maintaining a Neutral rating — which likely had an impact on the company shares this morning.
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.