Ford Motor Co.’s surging stock gave it a market value greater than rival General Motors for the first time in more than five years.
Ford had a market value of $83 billion at Tuesday’s close in New York, just barely ahead of GM’s $82.9 billion. The last time Ford was valued at more than its Detroit-based rival was Sept. 14, 2016, when Ford closed the day with a $48.2 billion market cap.
By midday Wednesay Ford shares were trading at $20.56, down nearly a percentage point.
