The Shocking Truth Behind Ford’s $5 Billion EV Failure
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Aesthetic state of Ford. Want to talk about a kiss of death. Again, our old friend Jim Cramer. Mad money. He put out a tweet. Yes, I think the Ford breakout is real. Thought the stock was going higher. This back on July 12th. What’s the thing down? Over 20 % over the past few days. Nice call, Jim. And then he put a big buyout on CrowdStrike 2 before everything went to hell in a handbasket. Anyway.
Jim, know, just quit while you’re ahead. Anyway, Ford stock is down massive. Second quarter operating profit, 2 .8 billion is down 26%. Second quarter of 2023, quality related costs and competition, stiff competition in its EV business, stiff competition.
Man, I mean, honestly, I really, really don’t need in this country more than one EV company. Really don’t. And that’s that’s be honest, OK, I see a lot of Tesla’s. I think a lot of people driving test to see Tesla’s everywhere from time to time. I’ll see another electric vehicle here and there.
but the pathetic state of this, this company, and again, I, I’ve been yelling and screaming at the people that are running these things, for some time. the, EV business, which they broke off for accounting purposes. They did this was basically PR saying, look, this is, you know, we’re doing fine over here. And they are combustion engine. Fine. Commercial sales. Fine. they’re,
set to lose almost $5 billion. Almost $5 billion in their EV business. Think about that. And again, I don’t understand why there’s not some sort of damn shareholder revolt. At what point in time are some of these CEOs just going to start saying, you know, screw you, Washington, D .C., we’re sick and tired of losing money.
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on this nonsense. And again, they’re tooling down a lot of their plants. The demand is not there. Everything they did with this whole EV push was wrong. Wrong, dumb, I massive vehicles with massive batteries and all sorts of issues out there. They can’t move the damn cars. And I mean, I forget, I’m not a shareholder, but I, you
people that have been, and I don’t know what you’re waiting for, what you expect is going to change. Do you really think all of a sudden everybody’s gonna start going out and buying Ford electric vehicles? No, no. Until they get away from this and get back to their core business, it’s not even going anywhere. Just that simple. Frankly, it’s pathetic. And this is what happens. This is what happens when the government,
Government starts picking and choosing winners and losers and starts dictating. Dictating to companies what they have to sell and what they expect you to buy. Again, pathetic. Watchdog on wallstreet .com.
