Movement Alert|Ford Rises 3.23% in Regular Trading, Rebound Follows Forceful Rebuttal of US Transportation Secretary Criticism Over China Ties

Market Focus
Sep 10

On September 10, Ford rose 3.23% in regular trading, rebounding from intraday lows to trade at $13.86/share, with turnover of $118 million. The recovery came after Ford issued a strongly-worded public statement pushing back against US Transportation Secretary Sean Duffy's demand that the company sever business ties with Chinese partners including CATL, Geely, and BYD.

Ford characterized Duffy's letter as an ill-advised grab for headlines, citing factual errors and misleading claims. The company also referenced positive statements from the White House and the Department of Commerce to argue that the Transportation Secretary's position does not represent the broader administration's stance. Ford emphasized its ongoing investment in domestic US battery production to counter claims of national security risk.

The stock had declined 3.04% on September 8 amid concerns over its strategic shift to extended-range EVs and weak August sales, then dropped as much as 4.5% on September 9 following the initial reports of Duffy's letter. The intraday bounce suggests some investors viewed the multi-day selloff as overdone following Ford's robust defense of its China partnerships.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10