Ford's Stock Hits New Recent Low, Bearish Momentum Gains New Ground
Ford Motor Co. (NYSE:F) stock has hit a new recent low on the open of Friday’s NYSE trading session. Shares have descended to a low of $11.76 observed just two minutes into today. The previous recent low was the price level of $11.80 seen on August, 18.
Overall market sentiment is down, being a nuisance to companies such as Ford who is usually doing all of the right things to bring the company back up to prominent status among the global automotive scene. To list briefly positive things Ford is doing is the disposal of interest-laden debt, focusing on profit, and focusing on public relations to consumers of their products, past and present.
There is no internal reason why shares of Ford are slowly dwindling aside from being caught up in the market tide which not many companies can escape. On Thursday, for every five companies listed on the NYSE that lost ground, only one came out with a positive daily gain.
South African auto workers have finally agreed with a beneficial to workers deal to end the strike that was imposed by the National Union of Metalworkers of South Africa (NUMSA) which export parts to many automotive companies, including Ford Motor Company. This positive news should be of benefit to Ford’s stock. With this newly struck deal, the Automobile Manufacturers Employers Organization (AMEO) will give NUMSA employees a ten percent bonus this year, following with two consecutive nine percent increases the next two upcoming years.
Editorial Update: According to Bill Ford, Ford’s executive chairman, has said that investors may reduce holdings of Ford shares to purchase shares in GM’s upcoming IPO.
After this came out, Company shares have fallen to an intraday low of $11.66 as of 11:36 A.M. Eastern.