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Tuesday, June 28, 2022

Ford’s electric vehicles have given its stock a jolt

Today, Farley is CEO himself — he replaced Hackett five months after that purchase — and the stock is now worth four times as much. Apparently, his confidence in Ford hasn’t waned. Farley hasn’t sold those shares.

Farley isn’t the only higher-up at the automaker who’s placed a bet on the company recently. Ford chairman Bill Ford, great-grandson of founder Henry Ford, recently exercised 2 million stock options to acquire more shares. (Stock options allow someone to buy stock at a certain pre-set price, usually what it cost at an earlier date, rather than paying the current price.) Ford paid $20.5 million, including taxes and fees associated with the move — and rather than sell off options to cover the cost, he converted them all into Ford stock.

There are a number of reasons for Ford’s increased stock market value, but one of the biggest is enthusiasm over the automaker’s initial…

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