Ford Makes Nearly $1.5B in Stock Offering
May 12, 2009 by Stephen Kersey
Filed under Business
Ford Motor Company, the automaker based in the United States, has made almost $1.5 billion by selling 300 million shares. With a price tag of $4.75, Ford says that the money raised will help the company make the needed adjustments in its business model to once again be able to make a healthy profit.
Compared to the rest of the automakers in the United States, Ford has been a shining beacon of hope. While companies such as General Motors and Chrysler make headlines for the wrong reasons, Ford has been able to survive without any federal bailout money. Most industry experts believe Ford isn’t in any danger of filing for bankruptcy anytime soon.
On the other hand, Chrysler has already filed for bankruptcy. General Motors has a deadline that they need to meet to avoid bankruptcy. And despite federal bailout money, the whispers about GM’s impending bankruptcy keep growing louder and louder.
Following this latest Ford news, their stock dropped to around $5 by the end of Tuesday.
Ford Logo (Image: Flickr)
