Here's Why Ford Motors (F) Stock Spiked on Tuesday

Shares of automaker Ford Motors F spiked as much as 4.8% on Tuesday after unveiling its highly-anticipated 2021 Bronco.

The company started taking reservations for the SUV Monday night, and every one of the 3,500 First Edition models have been spoken for. Ford’s reservation site ended up crashing because of all the interested buyers.

The Bronco starts at $29,995 while the top of the line Bronco Wildtrak starts at $50,370.

Reservations for the vehicle only required a $100 deposit and final orders won’t be placed until later this year. Deliveries are expected next spring.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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