Shares of two U.S. car companies are on the rise.
Year to date, Ford and General Motors are outpacing Tesla, a top performer in 2020. Tesla has risen 17% this year. Ford is up 34% in 2021 and was upgraded Tuesday to buy by Argus Research. GM, which is up 29% this year, beat Wall Street’s fourth-quarter earnings expectations on Wednesday. Both automakers have warned that a chip shortage could cut 2021 earnings.
It’s encouraging to see Ford and GM “finally innovating” as the legacy automakers forge ahead on their electric vehicle projects, said Mark Tepper, president and CEO of Strategic Wealth Partners.
“These are two American icons that you really want to root for,” Tepper told CNBC’s