Ferrari (NYSE:RACE) An Amazing IPO

Ferrari (NYSE:RACE) An Amazing IPO

Ferrari (NYSE:RACE) An Amazing IPO

$RACE

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.

Symbol Last Trade Date Change Open High Low Volume
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)

Stay tuned…

 

The following two tabs change content below.
HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.