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What happened?

Ford stock surged 11.7% to $24.31 Tuesday, its highest close since Aug. 10, 2001, according to Dow Jones Market Data. The S&P 500 slipped 0.1%, while the Dow Jones Industrial Average fell 0.6%. Ford stock is now up 17% so far in 2022 after rising 136% in 2021. Tesla stock, for its part, is up 9% so far in 2022, after a 50% gain in 2021. As we all know, Ford announced that its F-150 Lightning electric pickup truck is moving to the final phase of pre-production, with vehicles coming off the assembly line to go through testing. The company plans to drive vehicles for thousands of miles to see whether they can stand up to the rigors of real-world driving while maintaining the durability that customers expect. What's more Ford beats out Tesla as top-performing car stock of 2021.

For a long time, legacy automakers didn't take EVs seriously. That has changed, and today's upward moves in their stock prices show that investors are hopeful that their longtime favorites can compete against their newer counterparts. That could be a theme that plays out not just in the auto industry, but across many parts of the economy in 2022.

What should we do?

Investors may be wondering if Ford shares can keep rising. The answer, of course, is that depends on many factors, including Ford management decisions and the overall economy. Ford led the charge during the original automotive revolution. Clearly, it wasn’t out of the gates first in the electric vehicle race, but that doesn’t mean Ford can’t thrive. In fact, Wall Street is already buying Ford’s EV future as we see. What's more important despite the chip shortage, Ford is also tripling production for the recently launched Mustang Mach-E all-electric crossover. By 2023, it expects to build 200,000 units per year. Another key EV, Ford's all-electric van, the E-Transit, goes on sale early in 2022. It will target the commercial market, as will certain versions of Ford's F-150 Lightning trucks.

So just buy more and hold! And time will tell the truth! Good luck to all!

$Ford(F)$ $Tesla Motors(TSLA)$