Peter Schiff Says 'Americans Are Broke' — Points To Ford's Dismal Q2 Profit: 'They Can't Afford To Buy New Cars' Due To Interest Rates
Portfolio Pulse from Benzinga Neuro
Peter Schiff highlights economic struggles as Ford's Q2 profits disappoint, leading to a 12% drop in shares. Rising living costs and high interest rates are cited as reasons Americans can't afford new cars. Despite a 6% revenue increase, Ford's earnings per share missed estimates, causing concern.
July 25, 2024 | 1:31 am
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Ford's Q2 earnings report showed a 6% revenue increase but missed earnings per share estimates, leading to a 12% drop in shares. Rising living costs and high interest rates are making it difficult for Americans to buy new cars.
Ford's disappointing Q2 earnings and weak guidance have led to a significant drop in its stock price. The economic backdrop of rising living costs and high interest rates further exacerbates the situation, making it difficult for consumers to afford new cars.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100