Jim Cramer trimmed his Ford Motor Co. (NYSE:F) position last year after the stock outperformed on the company's electric vehicle transition plans. With Ford shares down nearly 50% since the start of the year, the CNBC host is now looking to increase his exposure.
"I don't know why we are so convinced that [CEO] Jim Farley cannot deliver on his promise on EV at Ford," Cramer said Wednesday on CNBC's Squawk On The Street.
Supply chain issues have improved and are better than most people think, he said, citing Ford's "tremendous" order growth.
"I think Farley is going to surprise to the upside," Cramer added.
Cramer sold Ford shares near the highs and has been waiting for the right opportunity to buy them back.
"Not willing to pull the trigger yet, but Ford at $10, have to," Cramer said. "Have to buy back the stock we sold."
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F Price Action: Ford has a 52-week high of $25.87 and a 52-week low of $10.61.
The stock was down 2.72% at $10.90 at press time, according to data from Benzinga Pro.
Photo: courtesy of Ford.
