Ferrari stock faces soaring Testarossa prices for investor favor - Automotive News
Ferrari's upcoming stock listing may struggle for investor attention with competitors in its own ranks. Vintage Ferraris have surged nearly 7-fold in value since 2006, according to the Hagerty Price Guide Index of Ferraris, which pools prices of 13 of the most sought-after models from the 1950s to the 1970s, such as the Ferrari 250. Even newer cars,... "Prices may not continue to go up like this forever, but they're never going to crash because these are tangible assets," said Johnson. That performance could be tough for Ferrari's stock to match after Fiat Chrysler Automobiles NV lists a 10 percent stake in an initial public offering in the coming months. Still, even those companies can't quite keep pace with the recent performance of a classic Ferrari. The Bloomberg European Fashion Index, which includes LVMH Moet Hennessy Louis Vuitton SE and Hermes International SCA, has by comparison slightly more than doubled since 2006, and Prada has fallen 16 percent this year to below its 2011 IPO price. Cashing in. Fiat is hoping to reap about $5 billion from spinning off its supercar division to help fund a 48 billion-euro ($53 billion) investment program that focuses on expanding the Jeep, Alfa Romeo and. Source: www.autonews.com
