Ford Motor Co.’s market value topped $100 billion for the first time as investors bet on the 118-year-old automaker’s prospects in the dawning electric age.
Ford shares rose as much as 5% to $25.69, extending a 20-year high, on Thursday in New York. The automaker’s new market cap exceeds rival General Motors Co. and electric truck startup Rivian Automotive Inc. It’s still a far cry from Tesla Inc., which investors have valued at more than $1 trillion.
