Ford stock plunges nearly 20% in worst day since 2008, following profit miss
Ford Motor(F) New York Post·2024-07-26 04:40
Ford plunged nearly 20% on Thursday after the company missed Wall Street’s profit estimates — leading to the worst single-day stock decline for the automotive giant in nearly two decades. The Detroit-based car manufactured revealed late Wednesday a second-quarter operating profit of 3.8 billion in the second quarter of 2023, as it struggles with quality-related costs and stiff competition in its EV business.Operating profit fell far below analysts’ expectations of $3.7 billion, ...