Most Widely Traded 48 Hour Clock:Ford Gets Busy In China
24/7 Wall St. has begun coverage of the 36 most widely traded stocks, eighteen each from the NYSE and the NASDAQ. Most of these stocks trade over 50 million shares a week. This new feature will highlight each of the 36 stocks at least every 48 hours giving investors fresh infomation and perspective on the companies whose shares are most likely to move the broader markets.
Stocks: (GM)(F)
Ford Motor announced that its venture in China where it has a partnership with Mazda and state-owned Changan Automobile Group sold 102% more cars in the world most populated country. Units rose to 74,396 vehicles.
No one seemed to care. Ford's sales are a tiny percent of the total which for the first half hit 1.78 million. The local GM joint venture sold nearly 202,000 cars to take first place in the China market share derby. With competition from VW, Toyota, Honda, and several local car manufacturers, Ford is showing growth off a tiny base. Most press stories on the Ford China sales failed to compare the numbers to those of the other car companies with operations in the country.
Ford's stock had a bit of a dead cat bounce and perhaps the China news helped. But, the shares are still barely above their 52-week low, trading at $6.85, down from the 12-month high of $11.19. When Bill Ford took over in 2001, the stock was closer to $25. As Ford said in his " The Way Forward" speech, "Ford Motor Company stands for a far-sighted commitment to growth".
Selling 74,369 cars in China does not cut it.
Douglas A. McIntyre can be reached at douglasamcintyre@gmail.com. He does not own securities in companies he writes about.
Stocks: (GM)(F)
Ford Motor announced that its venture in China where it has a partnership with Mazda and state-owned Changan Automobile Group sold 102% more cars in the world most populated country. Units rose to 74,396 vehicles.
No one seemed to care. Ford's sales are a tiny percent of the total which for the first half hit 1.78 million. The local GM joint venture sold nearly 202,000 cars to take first place in the China market share derby. With competition from VW, Toyota, Honda, and several local car manufacturers, Ford is showing growth off a tiny base. Most press stories on the Ford China sales failed to compare the numbers to those of the other car companies with operations in the country.
Ford's stock had a bit of a dead cat bounce and perhaps the China news helped. But, the shares are still barely above their 52-week low, trading at $6.85, down from the 12-month high of $11.19. When Bill Ford took over in 2001, the stock was closer to $25. As Ford said in his " The Way Forward" speech, "Ford Motor Company stands for a far-sighted commitment to growth".
Selling 74,369 cars in China does not cut it.
Douglas A. McIntyre can be reached at douglasamcintyre@gmail.com. He does not own securities in companies he writes about.
posted by douglas mcintyre at 2:38 PM
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