Ford Motor Company’s stock closed at a two year high yesterday, to $8.71 on the New York Stock Exchange, helped in part by a major $7.34 million investment from guru George Soros’ Soros Fund Management LLC.
Ford closed $0.30 higher than the previous trading day. The stock has more than tripled in value over the last year and is at its highest value since November 2, 2007.
Billionaire Soros’ investment is seen as a harbinger of things to come from major investors who have long stayed away from auto industry stocks. The share purchased by Soros represents about 0.2 percent of Ford , making the fund the 38th largest investor in the automaker.
