Ford Plummets By Most in Three Years on Downbeat Profit Forecast

(Bloomberg) -- Ford Motor Co. shares fell by the most in three years after the automaker fell short of earnings estimates and gave a projection for 2019 pretax profit that was below Wall Street’s expectations.

The stock plunged 7.5%, the biggest one-day drop since July 2016, and was the most heavily traded in the S&P 500, with 37.4 million shares swapped. Ford’s market capitalization now stands at $38.1 billion, almost $20 billion less than General Motors Co.’s market and about $2.6 billion behind Tesla Inc.

©2019 Bloomberg L.P.