announced a CEO change this week, and two traders are saying to resist the temptation to ride the stock’s recent momentum. ” data-reactid=”19″>Ford Motor Company (NYSE: F) caught investors off guard when it announced a CEO change this week, and two traders are saying to resist the temptation to ride the stock’s recent momentum.
said on CNBC. ” data-reactid=”20″>Ford’s Years Of Declines: Ford and other automakers were addressing declining vehicle sales even before the COVID-19 pandemic started, Strategic Wealth Partners President Mark Tepper said on CNBC.
The pandemic certainly doesn’t bode well for a reversal of trends as work-from-home becomes a more permanent fixture, he said.
A change in the investor narrative would be based on traditional automakers like Ford making a bigger push to electric vehicles, Tepper said.
TSLA), even though the sales figures aren’t even close, he said.
Ford sold 367,000 F-Series pickup trucks in the first half of 2020, which is roughly equal how many vehicles Tesla sold in 2019.
This “technological deflation,” coupled with people opting instead for used cars, doesn’t bode well for Ford’s stock, he said, adding that it has been in an established downtrend for more than five years.
“It’s a very difficult story,” Gordon said. “We have no positions and we’re staying pat right now.”
Dave Parker via Wikimedia. ” data-reactid=”36″>Photo by Dave Parker via Wikimedia.
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