CNBC – Ford Motor’s stock topped $20 a share Monday for the first time since September 2001, as investors increasingly show faith in CEO Jim Farley’s turnaround plan.
Since Farley took control of the automaker last October, Ford’s stock has roughly tripled from below $7 a share. Shares of Ford were up by as much as 5.9% during trading Monday before retreating slightly to close at $20.15 a share, up by 4.5%.
Ford’s stock has jumped by about 129% so far this year. That’s far higher than other automakers, such as General Motors, up by 43%, and Tesla, which has increased about 65% this year.
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