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Traders back Ford as it doubles down on electric vehicles

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Ford or General Motors?

Investors may once again be asking themselves that question after Ford’s announcement Wednesday that it plans to boost its electric vehicle investments to $30 billion and target 40% EV sales by 2030.

Earlier this year, GM said it hoped to go all-electric by 2035. Its stock is underperforming Ford’s so far this month, quarter and year.

Two traders told CNBC on Wednesday that they were sticking with the leader.

“Ford’s sales are booming,” Gina Sanchez, the founder and CEO of Chantico Global and chief market strategist at Lido Advisors, told CNBC’s “Trading Nation.”

Ford’s first-quarter earnings and revenue far exceeded Wall Street estimates despite an ongoing chip…



Source cnbc.com

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