FoMoCo’s stock has now hit its loses level since 2009 after dropping more than 2 percentage points Thursday closing at only $9.13.
Analysts say that Ford will have to make some major adjustments especially overseas where the company has lost hundreds of millions in Europe during the first quarter and is expecting to lose even more in the second.
Ford’s stock was at a nice high in January at $13.05.
The last time the Dearborn automaker’s stock closed that low was on Dec. 14, 2009 at $9.08.
– By: Omar Rana
Source: Detroit News