.On Monday, Ford Motor stock added to its best month since the Great Recession.
.The stocks climbed 32% for the month, marking the largest monthly gain since April 2009.
.A steady stream of product announcements and second-quarter earnings drove the stock’s performance in July.
The stock of Ford Motor Company rose on Monday to end its best month since the Great Recession in 2009, indicating a significant swing for the Detroit automaker this year.
Shares of $15.34 closed Monday, an increase of 4.4%. The gains so far in July increased the price by 31.9%. It was the best monthly percentage gain for Ford shares since 127.4% in April 2009, when Ford was coming out of the Great Recession without having to go through bankruptcy like its competitors General Motors and then-Chrysler.
Ford’s performance this month was fueled by a consistent stream of product-related announcements including securing a supplier for batteries for its upcoming electric vehicles, a rise of 14.6% last week as the company reported strong results that surpassed Wall Street’s expectations for the second quarter.
Ford also announced last week that it will increase its quarterly dividend to 15 cents per share, the amount it paid before the Covid-19 pandemic.
Ford outperformed GM, up 14.2% this month, as well as other U.S.-listed automakers like Stellaris up 16.3%, Ferrari up 15.1%, and Toyota Motor up 5.5%.It failed to outperform those companies like Rivian, which increased by 33.3% last month, and Tesla, which increased by 32.4%.
Ford’s stock is down about 26% in 2022 after being the top-performing stock among U.S.-listed automakers last year.