Ford Motor had previously invested $500 million into the electric vehicles (EVs) start-up Rivian in a plan to jointly develop electric vehicles. While the partnership resulted in a positive surge in Ford motor stock price, the partnership became strained after Rivian went public and its market cap shot past that of Ford.
On Monday, the shares of Ford were up 5.4% and on Tuesday the bullish trend continued after the share price went up by another 7.2%.
Immediately after the two companies acknowledged that they have scrapped their previous plans to work together to develop an EV, the Ford stock dipped by 1.32%. Investors are, however, confident that Ford’s electric vehicle strategy is on a strong trajectory and that the stocks shall be on a bullish trend pretty soon.
To help stock traders eying the Ford stock, Invezz has created a brief article on the best places to buy it and what the Ford motor is.
To find out more, please continue reading.
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What is Ford motor Stock?
Ford motor stock is the stock of Ford Motor Company and it trades on New York Stock Exchange under the symbol NYSE: F.
If it is your first time hearing about Ford Motor Company, it is an American multinational automobile manufacturer with headquarters in Michigan, USA. It was started by Henry Ford and incorporated in 1903.
Ford Motors manufactures and sells commercial vehicles under the Ford brand and luxury cars under the Lincoln luxury brand.
Should I buy the NYSE: F stock today?
If you are looking to invest in the shares of an EV automaker, then Ford Motor (NYSE: F) stock could be a good choice especially because of its strong growth prospects in the industry.
Ford stock price prediction
If Ford Motors pull through with the electrical vehicle strategy, the Ford stock price is expected to jump to above $21 by the end of 2021 or at the beginning of 2022.
Ford stock social media coverage
The post Where to buy Ford Motor Stock dip amid investors’ confidence boost after Ford dropped plans to jointly develop EV with Rivian appeared first on Invezz.
