The Italian race car company that needs no introduction was established by Enzo Ferrari in 1939 as Auto Avio Costruzioni, a company that focused on making machine tools and aircraft parts but experimented with race cars and engines. The first Ferrari, the 125 S, came in 1947. Learn the latest information and analysis on the company, RACE stock price today, stock news, how much one share costs and other information to help you make investment decisions.
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In 1969, Fiat bought 50% of the business, expanding its stake to 90% by 1988. In 2015, Ferrari launched an IPO on the New York Stock Exchange. Now the company is traded on the Italian Borsa as well as NYSE with the ticker RACE and is the 10th largest car maker by market cap ($40.3 billion; as of 4/18/22). The company has great profit margins due to premium prices of their cars.
The Ferrari stock price fell below $180 in early March, which was a great dip to buy, but with average price targets of $250, this is a stock that should do really well, especially if the interest rates continue to grow encouraging people to buy more luxury products.
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