Today In Fast Money History... June 30th
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On June 30th 1953, General Motors began production of its first sports cars with an initial price tag of $3500.
In 1954, GM changed its VIP-only marketing policy for this sports car, making it available to anyone who could afford its steep price tag.
By 1992, GM had sold over 1 million Chevy Corvettes.
And today, despite the company’s decision to shed brands such as Pontiac, Saturn and Hummer, Corvettes are still rolling off the factory floor in Bowling Green, Kentucky.
But don't expect to land one for $3500. Now it will set you back a cool $50,000.
That's today in Fast Money History.
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Well GM may have seen better days, but rival Ford said Monday it plans to increase third-quarter production by 25,000 units — marking the automaker's second production hike in recent weeks.
And it looks like big investors are placing upside bets on this automatker.
Fast Money trader Pete Najarian says calls in Ford are selling at a ratio of 3:1 versus puts. That suggests to him this stock could move up at an accelerated pace.
I think Ford can go to $7, adds Guy Adami.
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Trader disclosure: On June 30th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (C), (GS), (BTU), (AGU), (INTC), (MSFT), (NUE); Terranova Owns (TER), (RIMM), (MSFT), (XBI), (ABT); Finerman Owns (RIG); Finerman's Firm Own (NOK), (PBR), (RIG), (WMT), (FCN), (TBT), (ELX); FInerman's Firm Owns (WFC) Preferred; Finerman Owns (WFC) Preferred; Finerman's Firm Owns (BAC) Preferred; Finerman Owns (BAC) Preferred; Finerman's Firm Is Short (IJR), (IYR), (MDX), (SPY), (USO); Najarian Owns (F) Call Spread; Najarian Owns (GS) Call Spread; Najarian Owns (INTC) & Short (INTC) Calls; Najarian Owns (JPM) & Short (JPM) calls; Najarian Owns (PALM) Call Spread; Najarian Owns (WNR) & Short (WNR) Calls; Najarian Owns (YHOO) Call Spread
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