Ford’s New $3 Billion Bet Just Flipped Greta Thunberg The Bird, Magnificent 7 Lose $1 TRILLION

Stocks took a tumble Friday, ending a week of ditching mega cap favorites for smaller companies with better valuations and more upside. We all knew this was coming, right?

The S&P 500 and Nasdaq each lost 0.6%, and the Dow dropped 410 points, or 1%. The S&P is down 2%—its worst week since April—while the Nasdaq slipped over 3%. But hey, the Dow is up 0.6%, and the Russell 2000 is up nearly 2%.

Mega-cap tech stocks held the Dow in the red today, with the "Magnificent Seven" leading the losers. Amazon experienced a 6% drop, while Intel and Microsoft slipped around 4%. Apple and Salesforce ended the week with a 3% loss.

Meanwhile, 16 of the Dow’s 30 members closed in the green. UnitedHealth Group led with a nearly 11% jump. Caterpillar, Chevron, Johnson & Johnson, and JPMorgan Chase jumped around 3%.

Here’s the heatmap for today.

Ford’s New $3 Billion Bet Just Flipped Greta Thunberg The “Bird”

Ford just gave a middle finger to Greta Thunberg and all the treehuggers trying to force every human being to dump their gas-powered cars. 

In an effort to make more money, they've decided to scrap their electric vehicle (EV) hub plans in Canada and shift gears to produce more heavy-duty, gas-powered pickups.

Before you hop in your Tesla and start playing some sad tunes, know that Ford isn’t completely abandoning the EV dream. But for now, they’re dropping a cool $3 billion to ramp up Super Duty truck production. You know, those big, brawny siblings of the F-150 that construction workers and wannabe rednecks (who actually work office jobs) can't get enough of. 

(Source: Cheezburger)

Out of that investment, $2.3 billion will revamp a factory in Oakville, Ontario. This place was supposed to birth a new three-row electric SUV, but that plan has been punted to 2027. Instead, they’ll be cranking out trucks, securing 1,800 Canadian jobs—400 more than the EV factory would have.

Why the sudden change? Easy. Ford’s current Super Duty factories in Ohio and Kentucky are maxed out and still can’t keep up with the demand. Plus, let’s be real, the market for three-row EVs isn’t exactly on fire. By pushing back the EV launch, Ford buys time to perfect the product and wait for better battery tech. Smart, right?

I mean, think about it. Right now, we have a ton of EVs just sitting on lots, gathering dust like they’re part of a forgotten car museum. Dealers are now telling automakers to pump the brakes on EV deliveries until they can sell what they’ve got. 

It turns out, after the initial rush of wealthy, eco-conscious buyers, the rest of blue-collar America isn’t buying the EV craze without more proof. Also let’s be real, most people would rather spend five minutes filling up their gas tank than 30 minutes in a Dunkin’ Donuts parking lot next to a dumpster, waiting for their EV to charge.

This isn't just a Ford thing. General Motors is also dialing back its EV goals, and even Tesla is feeling the pressure, cutting prices and slowing expansion. The early days of EV excitement seem to be cooling off, and automakers are adjusting their strategies.

But don’t think Ford is giving up on EVs. They’re still pushing forward with their "Blue Oval City" EV manufacturing campus in Tennessee, aiming to roll out a new electric pickup by 2026. Plus, there’s a top-secret team in California working on a smaller, affordable EV platform.

For now, though, it’s all about those Super Duty trucks. The Oakville plant’s makeover is set to start producing these powerhouses in 2026, keeping jobs safe and the assembly line buzzing. The Canadian auto workers union, Unifor, is on board, happy that this plan secures their members’ jobs.

So, what does this all mean? Ford’s latest move shows that while EVs are the future, the present is all about giving people what they want now—big, powerful trucks. Especially considering that over the last 12 months, their stock price is in the red. I think it was about time to give the people what they want and I wouldn’t be surprised if investors take notice too.

Stock.News has positions in Tesla, Apple, Microsoft, Ford, and Johnson & Johnson.