Advisors’ clients won’t be able to resist one of the biggest stocks in today’s trading.
Ferrari hit the trading floor at full speed Wednesday leaving investors itching for a piece of the luxury-sports-car maker. Priced at $52, RACE opened trading at $60 per share and a market valuation of $11 billion based on 17.18 million shares sold to the public.
While the action slowed by midday advisors can expect big interest from clients wanting to jump on this rare opportunity to own a piece of one of the world’s most prestigious car brands as a pure-play investment and not as part of Fiat Chrysler Automotive.
With Christmas less than two months away this would make a great Christmas gift for those special clients who just happen to love Formula 1.
Ferrari plans to ramp up production from 7,000 to 9,000 vehicles by 2019 providing investors with growing revenue and income projections over the next few years putting a fire under its stock price.
Whether it can meet those projections is the million-dollar question but if any brand can do it, Ferrari would be it.
Interestingly, GM also is having a good day in heavy trading due to better than expected Q3 earnings. Today’s two events bode well for car stocks in general.
Zoom, Zoom.
While the action slowed by midday advisors can expect big interest from clients wanting to jump on this rare opportunity to own a piece of one of the world’s most prestigious car brands as a pure-play investment and not as part of Fiat Chrysler Automotive.
With Christmas less than two months away this would make a great Christmas gift for those special clients who just happen to love Formula 1.
Ferrari plans to ramp up production from 7,000 to 9,000 vehicles by 2019 providing investors with growing revenue and income projections over the next few years putting a fire under its stock price.
Whether it can meet those projections is the million-dollar question but if any brand can do it, Ferrari would be it.
Interestingly, GM also is having a good day in heavy trading due to better than expected Q3 earnings. Today’s two events bode well for car stocks in general.
Zoom, Zoom.
