Ford Motor Co, one of America’s original automobile makers, has broken a historical record over the weekend. The market capitalization of the company rose to $100 billion, which makes it the highest valuation that the automotive powerhouse has earned since its inception in the early 1900s. The company, which is headed by newly established CEO Jim Farley, is in the midst of orchestrating their manufacturing process in order to compete with vehicles that are environmentally friendly. The new direction has pleased the markets and Wall Street buyers with impressive numbers.
Profits for the family-owned car maker were adjusted by more than a billion dollars from $9 billion to $10.5 billion after their total earnings peaked higher in the last business quarter. Financial analysts speculate that the stock could plummet following their unprecedented rise to fame with increases topping 125% annually. The news puts Ford in the running for one of the top ten automakers in the world, lagging rivals Toyota, Kia, and Honda. As other electronic vehicle makers scramble to keep up the pace, with an international semiconductor ship shortage, the world will be watching closely with every passing moment.
