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- Ford Motor Company (NYSE:F) is up 3.15% in morning trading and crossed over the $100B market cap mark for the first time ever.
- The gain for Ford follows the news that Tesla's Cybertruck is not likely to arrive until 2023. Meanwhile, Ford (F) is set to double the production rate of its F-150 Lightning to 150,000 units this year and indicated that over 200,000 reservations are on the books for the electric pickup.
- General Motors (NYSE:GM) is also outperforming today with a 2.15% gain. GM also trades at its highest market cap ever and could cross over $100B with another 10% rally. Earlier in Europe, Deutsche Bank raised its price target on GM to $71 and said it prefers the stock to Ford.
- Shares of Ford (F) are up 67% over the last six months as the electrification thesis has taken hold, while GM is only up 4% with near-term supply chain issues impacting investor sentiment. Both stocks have seen their market caps cruise right past Rivian Automotive (NASDAQ:RIVN) over the last month.
- Ford Motor (F) is a screaming buy on a Seeking Alpha Quant Rating basis with it ranking first in the entire consumer discretionary sector.