Ferrari (NYSE:RACE) An Amazing IPO
Ferrari (NYSE:RACE) is not just a car company, Ferrari a lifestyle brand CEO Sergio Marchionne said in an interview Tuesday.
“I think it has been confirmed by the performance of the stock in the marketplace, but more importantly the financial performance we’ve had since we’ve taken it [the company] public, that Ferrari as you know it isn’t a car-maker,” CEO Marchionne said. “Ferrari make cars, but it makes luxury goods for a select group of people who cherish belonging to an exclusive club for our users, that’s a different argument than making cars.”
Ferrari is 1 of the world’s Tier 1 Luxury brands. And that is the story that Wall Street has aggressively dined on since the iconic Italian Supercar maker went public in late October 2015, since the IPO, shares of Ferrari have risen about 100%.
Ferrari stock price has been driven by strong demand for its expensive Super and HyperSupercars.
Shipments of Ferrari cars rose 6% for 1-H of Y 2017.
Profits rose 43% from the prior year.
Sales of V12 models have been on fire, led by theGTC4Lusso, LaFerrari Aperta and the F12tdf.
And so, Wall Street loves that Ferrari management has created an Exclusive Supercar Club.
|NYSE:RACE||115.84||10 October 2017||1.01||116.3||116.3||114.97||444,092|
|HeffX-LTN Analysis for RACE:||Overall||Short||Intermediate||Long|
|Neutral (0.18)||Neutral (0.08)||Neutral (0.21)||Bullish (0.25)|