Shares of Ford (NYSE:F) plunged in today’s session. As of this writing, the stock is down over 12%. This can be attributed to Ford’s recent announcement that it will incur additional supplier costs of $1 billion due to supply chain issues.
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The stock started the day in the red, down around 7%. However, it has done nothing except continue to fall throughout the trading session with no sign of relief.
In the current market environment, investors are unwilling to forgive companies for even meeting expectations. Thus, when a company announces bad news like Ford recently did, the market will react extra negatively.