As of yesterday, Ferrari is worth more than General Motors and Ford
Name beats quantity; this seems to be Ferrari's case. With only 10,000 cars producer per year, Ferrari surpassed General Motors, which produces 7.7 million vehicles per year.
For the Q1 earnings report, Ferrari announced a dividend per share of $1.23. The earnings predictions lowered from $4.5 billion to $3.7 billion. It also reduced the adjusted earnings to $1.31 billion from $1.56 billion.
Ferrari is on high-horses after it resumed the activity in Maranello and Modena, with full production starting this Friday. The company was a pioneer in the automotive industry, being the first to test its employees before returning to work.
The stock price for Ferrari went up by 7% during yesterday's trading session. While other carmakers reported drops in shipments and demand due to the pandemic, Ferrari's deliveries increased by 5% in just one month. But this doesn't come as a surprise for Ferrari as in only one week, the stocks went up 13%. Since March 23, it rose more than 21%.
Stay updated with the recent changes in the market by checking our website. See the difference when investing with Capex. Register now!
Sources: cnbc.com, independent.co.uk
Users/readers should not rely solely on the information presented herewith and should do their own research/analysis by also reading the actual underlying research. The content herewith is generic and does not take into consideration individual personal circumstances, investment experience or current financial situation.
Therefore, Key Way Investments Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the information presented herein. Past performance and forecasts are not reliable indicators of future results.