CEO Marchionne Drives Ferrari (NYSE:RACE) to All-time Highs
$RACE, $FCAU, $SPY
Ferrari (NYSE:RACE) has blown past former parent Fiat Chrysler Automobiles (NYSE:FCAU) in the race that might matter most, that being market capitalization.
Ferrari was spun off from FCA in October 2015, and its stock has been on the rise since early July 2016, when it was trading at 38/share.
Today, Friday, 18 August, Ferrari tapped 112.02/share, and all time high, thus giving it a market cap of more than $21-B.
Meanwhile, FCA’s share price, which was under 10/share in April 2017, was trading at more than 12/share last week, giving it a market cap of about $18-B.
Fiat Chrysler reported positive Y-Y earnings growth in Q-2. Fiat Chrysler’s expanding profit margins and improving debt position could be 2 Key reasons for the optimism in its stock.
Ferrari’s valuation began to overtake that of its former parent in early May of Y 2017.
Like an F1 race Ferrari began to put clear separation between itself and FCA.
At the wheel is Sergio Marchionne, CEO of FCA and Ferrari.
|NYSE:RACE||111.78||18 August 2017||2.53||110||112.02||109.51||512,809|
|HeffX-LTN Analysis for RACE:||Overall||Short||Intermediate||Long|
|Bullish (0.49)||Bullish (0.38)||Very Bullish (0.52)||Very Bullish (0.58)|
Have a terrific weekend
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