Ford turns a setback into a win

Ford stock is down today, trading about 2.4% lower near 13.3atthetimeofwriting.Gainsof2813.3 at the time of writing. Gains of 28% in the past six months face risk after the company announced on Dec. 15 it is taking a 19.5 billion pre-tax write-down on its electric vehicle division over the next two years and shifting production away from EVs toward hybrid and extended-range vehicles. While the stock market didn’t react negatively to the news, it did so following Ford’s cancellation of a $6.5 billion battery agreement with LG Energy S ...