Ford Stock Drops to 22-Year Low
By Michelle Krebs January 7, 2008After losing its 75-year position as Americaâs No. 2 vehicle seller to Toyota last week and after positing a 12% sales drop for 2007, Fordâs stock fell to its lowest price since 1986 on Friday.
Fordâs 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. Fridayâs 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 Fridayâs trading.
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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.
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