Shares of Ford Motor Co. dropped 3.5% in premarket trading Friday, putting them on track for their first loss in 11 sessions, to snap a record-long win...
Shares of Ford Motor Co. F dropped 3.5% in premarket trading Friday, putting them on track for their first loss in 11 sessions, to snap a record-long win streak. The automaker’s stock had soared 22.6% during the 10-day streak, which started after the stock closed at a 22-month low of $10.95 on Nov. 28. Friday’s pullback comes after electric vehicle maker Tesla Inc.
said late Thursday it was cutting prices on several models, with some models seeing discounts of nearly 20%. Tesla’s stock slumped 5.2% ahead of Friday’s open. Among other automakers, shares of General Motors Co. GM slid 2.6% toward their first decline in nine sessions, Lucid Group Inc.
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