- Ford’s market cap topped $100 billion for the first time since the automaker’s stock hit a 52-week high on Thursday during morning trading.
- Ford shares jumped 4.6% to $25.59, continuing a more than 20-year high for the automaker’s stock price.
DETROIT — Ford Motor’s market value topped $100 billion for the first time ever, as the automaker’s stock hit a new 52-week high in Thursday morning trading.
Ford shares jumped 4.6% to $25.59, hitting another 20-plus-year high. As of 11:10 am on Thursday, its market value was around $ 102 billion.
Fords has benefited from plans to ramp up production of electric vehicles, including the Mustang Mach-E crossover and an upcoming electric version of its best-selling F-150 pickup, due out this spring. The efforts are part of a Ford+ turnaround plan led by CEO Jim Farley, who took over in October 2020.
Ford now owes nearly $90 billion from crosstown rival General Motors, as well as more than $75 billion from electric vehicle start-up Rivian Automotive, which failed to maintain a profit following a blockbuster IPO in November. Ford has significantly outperformed market cap-leader Tesla on a more than $1 trillion market cap.