Friday's Trades: Ford, Rivian, NYCB and More

Investors seeking a bargain in this expensive stock market will look at Ford Motor (F) today. On Wednesday, the firm posted vehicle sales rising by 1.0% in the second quarter, to 536,050 units.

Markets who thought hybrid and gas-powered vehicles would hurt Ford EV sales were wrong. EV sales increased by 61% to 23,957. The company offers customers a wide range of choices. They may choose the Lightning truck and Mach-E in the EV category. This is a welcome alternative to Tesla’s (TSLA) line-up.

Rivian (RIVN) risks pulling back from the $15 resistance level. The firm said that it has no plans to expand its $5 billion joint venture deal with Volkswagen (VWAGY). As a result, it will not expand vehicle production with the German partner.

Trading volume for New York Community Bank (NYCB) may rise ahead of the regional bank reverse-splitting shares one-for-three effective 5:01 p.m. on July 11, 2024. This cuts its common stock count from 2 billion to 666.7 million. This allows funds that previously could not buy the stock at below $5.00 to start a position.

Investors who are uneasy about NYCB stock may consider State Street (STT) or Truist Financial (TFC). Those are bigger, less volatile regional banks.

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