Ford shares are down 6% in 2026 as of October 15 and trade under $15, but the article argues investors should be cautious. It says Ford's Model e electric vehicle segment lost almost $15 billion from early 2023 through 2025, and the company recorded about $19.5 billion in special charges in December 2025, roughly 40% of its market capitalization, including a $6 billion hit from ending its battery joint venture with SK On. The author calls the mass-market auto industry brutal, noting Ford spent over $21 billion in capital expenditures from 2015 to 2018 while its net income was cut in half. Although the forward P/E of 7 looks cheap, the article concludes that repurposing EV assets for AI-related battery demand will not drive meaningful profit, so Ford is best avoided even under $15 per share.
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