On July 24, the stocks of both Ford Motor Company (F) and Tesla (TSL) bled after the companies reported their second-quarter earnings. Today’s Ford earnings quickly led to a massive sell-off in F shares after the company released its Q2 results.
The legacy car maker reported adjusted earnings of $0.28 per share for the second quarter of 2019. This figure reflects a rise of 3.7% from Ford’s adjusted earnings of $0.27 in the second quarter of 2018. The results also came in worse than Wall Street analysts’ estimate of $0.31 per share, hurting investor sentiment. Ford stock tanked about 7.3% in the aftermarket session.