Ford: Some Investors May Switch to GM
DETROIT (TheStreet) -- General Motors' IPO could lead some large investors to diversify some auto sector holdings away from Ford (F), but Ford Executive Chairman Bill Ford said he's not worried.
"To the extent that we have been the only automaker available in the sector, I am sure that some money will be rebalanced into GM," Ford told reporters Friday, according to The Detroit News.
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Ultimately, however, the fate of the automakers' stock will be determined by their financial performance. "It doesn't make any difference to me where our shares are, or their shares are on any given day," Ford said.
Ford shares are up 15% this year after rising 334% in 2009. General Motors filed for an IPO registration last week and is expected to again become a public company this fall.
Chrysler could also have an IPO as soon as next year, CEO Sergio Marchionne has said. -- Written by Ted Reed in Charlotte, N.C.Select the service that is right for you!
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