Ford Motor Company, trading under the symbol "F" on the NYSE, is a major player in the automotive industry, known for its wide range of vehicles, including cars, trucks, and SUVs. The company faces competition from other automotive giants like General Motors and Toyota. Recently, Piper Sandler updated its rating for Ford to Neutral, maintaining a hold action, with the stock priced at $10.25.
The stock's current price reflects a 2.5% increase, translating to a gain of $0.25. Throughout the day, the stock fluctuated between $10.01 and $10.25. Over the past year, Ford's stock has seen a high of $14.85 and a low of $9.06. The company's market capitalization is approximately $39.9 billion, with a trading volume of 102.6 million shares.
Ford is currently under scrutiny as federal regulators investigate approximately 1.3 million Ford F-150 trucks from model years 2015 to 2017. The National Highway Traffic Safety Administration (NHTSA) has received 138 complaints about these vehicles unexpectedly downshifting at high speeds, leading to rapid deceleration and potential crashes.
This investigation follows Ford's recent recall of over 240,000 Explorer models due to improperly secured seatbelts. The F-150 probe highlights significant safety concerns, as this model is one of Ford's most popular. The sudden downshift issue can cause the rear wheels to lock temporarily, complicating vehicle control and increasing the risk of accidents.
