Jim Cramer Says He Needs To Buy More Ford Stock When He Hits This Price: Here's Why

Jim Cramer trimmed his Ford Motor Co. F position last year after the stock outperformed on the company's electric vehicle transition plans. With Ford shares down nearly 50% year-to-date, the CNBC host is now looking to boost its visibility.

"I don't know why we're so convinced that [CEO] Jim Farley can't deliver on his promise on electric vehicles at Ford," Cramer said on Squawk On The Street on Wednesday. from CNBC.

Supply chain issues have gotten better and are better than most people think, he said, citing Ford's 'tremendous' order growth .

"I think Farley will surprise on the upside," Cramer added.

Cramer has sold Ford shares near highs and is waiting for the right opportunity to buy them back.

"I don't want to pull the trigger yet, but $10 Ford has to," Cramer said. "We have to buy back the stock we sold."

See also: Stocks that hit a 52-week low on Tuesday

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.

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