Ford shares closed Monday at $2.55 each, down 14 cents, or 5.2% per share.
They’ve traded as high as $8.79 in the past year.
Whether the price will tank or skyrocket in these uncertain times is
anybody’s guess but many, including Faria, the marketing expert, believe the
stock is poised for a rebound – especially if the U.S. and Canadian governments
can agree on a multibillion-dollar bailout package.
I’ve seriously thought about buying a lot of Ford shares at this price
because one of two things is going to happen,” Faria said. “Either Ford is going
to fail and you’re going to lose all of it or, if Ford doesn’t fail, the shares,
at some point, are going to be worth a lot more.”
Faria said Ford was in better shape financially than GM and Chrysler, but
conceded that the fates of all three are intertwined because they share
suppliers dependent on business from all three – and because of the need for
government aid.
Not everyone sees a bright future for Ford. Indeed, one Web site wag wrote on the Windsor
Star Web site that “I have some Penn Central, WorldCom., Enron,
Nortel (NT) and Citibank (C) shares if Mr. Chisholm would like to take them in trade for a
new car. They are in certificate form, so he can use them to decorate the
showroom. Cheaper than buying new wallpaper.”