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Benzinga
Benzinga
Business
Henry Khederian

Why Ford Shares Are Diving Today

Ford Ford Motor Company Wells Fargo

Ford Motor Company (NYSE:F) shares are trading lower by 4.33% at $12.28. Wells Fargo downgraded the stock from Overweight to Underweight and lowered its price target from $24 to $12.

Shares of several companies in the broader consumer discretionary space, including Ford, have also been trading lower in recent sessions amid overall market weakness as investors digest the latest US inflation data, which came in higher-than-expected. Ford shares are trading lower by 15.11% in the trailing five sessions.

See Also: Why Disney Shares Are Sliding Today

Ford manufactures automobiles under its Ford and Lincoln brands.

According to data from Benzinga Pro, Ford has a 52-week high of $25.87 and a 52-week low of $11.28.

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