Ford Stock Drops to 22-Year Low
January 07, 2008
After losing its 75-year position as America’s No. 2 vehicle seller to Toyota last week and after positing a 12% sales drop for 2007, Ford’s stock fell to its lowest price since 1986 on Friday.
Ford’s market value has plummeted to $13 billion from $68 billion in 1998, when Ford sold one of every four new vehicles in the U.S.
The shares have lost 20% in the past year. Friday’s closing price was the lowest since Jan. 15, 1986, when Ford ended the day at $6.11, according to Bloomberg data. Ford went as low as $6 in Friday’s trading.
Posted by Michelle Krebs at 5:10 AM under Ford | Comments (1) | digg this | Seed Newsvine
It's more like 58 years since Ford has been the number 2 automaker.
Chrysler was No. 2 for much of the 1940's until the '49 Fords and
Mercury's came out and overtook the conservative Chryslers in sales.
Posted by: George Wendell | January 07, 2008 at 2:32 PM