Ford Shares Worst S&P 500 Performer By Day After $1 Billion Delivery Cost Warning


Ford Motor Co. F,
The stock fell to its lowest point since July 27 on Tuesday and was on track for its biggest one-day percentage drop in two years after the automaker said inflation and a parts shortage will leave it with more unfinished vehicles than expected and paying more for it. the parts it does get, recalling that the problems in Wall Street’s supply chain are far from over. The stock has fallen four out of the past six days and is looking at losses of 35% for the year, which compares to losses of about 19% for the S&P 500 index. spx,
Ford said it expects to have between 40,000 and 45,000 unfinished vehicles in inventory by the end of the third quarter and that, based on recent negotiations, payments to suppliers will be about $1 billion higher than expected for the quarter, thanks to inflation. However, the company confirmed its outlook for the year. Ford stock underperformed in the S&P.

ALSO READ  Gold has served as an impressive store of value during the current "everything sale"


Please enter your comment!
Please enter your name here