Why is Ford Motor Co. (F) Stock down?
Ford Motor Company Stock (F) dropped by 12.25% from $11.35 to $9.96 in the trading on Friday October 27, 2023. The reason why F stock down today is due to worries about costs and EV plans. Investors are seeing losses in the new EV segment, Model e, growing and that's causing F stock down today. Ford announced to postpone $12 billion in planned spending on electric vehicle production and pause some major projects, including the construction of a new battery factory in Kentucky. The auto giant instead look to grow sales of hybrid versions of some of its most popular vehicles.
Ford Motor Company Stock (F) dropped by 1.65% from $11.54 to $11.35 in the trading on Thursday October 26, 2023. The reason why F stock down today include
- Missed third-quarter results. Ford missed Wall Street’s Q3 earnings expectations, as it restructures its operations and regroups following the end of a nearly six-week U.S. labor strike that in total has cost the company $1.3 billion.
- Earnings guidance: Due to the work stoppage by the United Auto Workers union, which ended Wednesday with a tentative deal, the company pulled its previously announced earnings guidance that included adjusted earnings between $11 billion and $12 billion and adjusted free cash flow of $6.5 billion to $7 billion.
Ford Motor Company Stock dropped by 2.04% from $12.25 to $12.00 in the trading on Thursday October 12, 2023. The reason why F stock down today is due to the UAW strike. The United Auto Workers (UAW) union called on almost 9,000 workers to strike at Ford’s Kentucky Truck Plant, one of its most important factories.