Ford Watch: Down 7 Percent. Thanks, Kirk.
How much did nonagenarian billionaire investor Kirk Kerkorian's sell-off of his Ford shares this morning hurt the troubled automaker?
About $350 million worth.
That's the drop in Ford's value, or market capitalization (share price times number of outstanding shares) from the close of yesterday's trading to the close of today's trading.
Ford closed at $2.17 per share today, down 6.87 percent.
On Monday, Ford closed at $2.33 per share.
GM, perhaps on swirling rumors that it's going to merge with Chrysler, closed up .15 percent today at $6.54.
But it would be wrong to interpret that as meaning everyone is seeing the U.S.A. in their Chevrolet: Shares of GM were trading at $37.69 a year ago today.
-- Frank Ahrens
Posted by: Anonymous | October 21, 2008 7:19 PM | Report abuse
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