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Ford Motor (NYSE:F) continued losses for seven straight sessions as the stock closed 1.28% lower, at $10.18 on Wednesday.
The automaker lost more than 4% in the last six trading sessions. F is down 12% over the past twelve months. The stock closed 0.48% lower, at $10.31 on Tuesday.
The stock has gained about 3.79% so far this year, compared to a gain of 0.68% in the broader benchmark index.
According to a report from last week, Ford is going to let Nissan use part of its battery plant in Kentucky, as the Detroit automaker further scales back its electric vehicle plans.
Ford has two EV battery manufacturing plants in Kentucky as part of a joint venture with South Korean battery maker SK On. One of the factories is not in use, and only a portion of the other plant is producing batteries for Ford.
It was recently reported that Ford is cutting 350 members of its connected-vehicle workforce. Ford has said that it faces a financial headwind of $1.5B tied to U.S. tariffs on imported autos and components.
The automaker also pulled full-year guidance given the “material near-term risks, especially industrywide supply chain disruptions, from the implementation of tariffs.”
Seeking Alpha’s Quant rating system, SA authors, and Wall Street analysts, all have rated Ford stock as HOLD.
Seeking Alpha analyst, The Asian Investor argues that despite tariffs concerns, Ford’s stock remains attractive due to better-than-expected Q1 earnings and a high dividend yield of 7%+.
The analyst noted that Ford’s electric vehicle segment showed growth in deliveries and narrowed losses, even though it remains unprofitable.
“Risks include a potential slowdown in EV deliveries and tariff impacts, but Ford’s overall direction and profitability make it a value investment opportunity,” the analyst added.