Ferrari (NYSE:RACE) Acting Strong During Market Correction Mode

Ferrari (NYSE:RACE) Acting Strong During Market Correction Mode

Ferrari (NYSE:RACE) Acting Strong During Market Correction Mode

$RACE

The company’s shares are trading off about 8% from their all time highs at 130.63 on 2 February 2018.

Ferrari (NYSE:RACE) through with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars.

It operates The Scuderia the famously successful F1 motorsports racing team

The Maranello outfit offers 7 models, including 4 sports cars that include 488 GTB, 488 Spider, F12berlinetta, and special series F12tfd; and three GT cars, the Portofino, GTC4Lusso, and GTC4Lusso T.

In addition, Ferrari offers non-registered racing cars; and parts, as well as after sales, repair, maintenance, and restoration services for cars.

Plus, Ferrari licenses its iconic brand to various producers and retailers of luxury, lifestyle goods, and Ferrari World, a theme park in Abu Dhabi, the United Arab Emirates.

The Aristocrat Italian company provides direct or indirect finance, and leasing services for the purchase of cars to retail clients and dealers; and manages race tracks.

Ferrari, as a racing legend, is 2nd to none, and is 1 of the best performing IPOs in the market.

Last year was super as the company set records for earnings and revenues, management declared this month that it will 2X its revenues and earnings by 2020, given its record, expect them to make and exceed the projection, that is their history

Ferrari is the world’s #1 automotive brand and the best performer in the sector.

Some analysts, not me, have begun to ratchet down their expectations, 2 have dropped their earnings estimates for the current year and next year.

Symbol Last Trade Date Change Open High Low Volume
NYSE:RACE 119.21 9 February 2018 -0.41 119.26 121.03 117.22 902,358
HeffX-LTN Analysis for RACE: Overall Short Intermediate Long
Bullish (0.29) Neutral (0.24) Neutral (0.17) Bullish (0.47)

Have a terrific weekend.

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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