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.
On Monday, Ferrari scored a market capitalization of $30.1 billion, while General Motors fell under $29.3 billion, and Ford reached $19.2 billion.
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%.
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Sources: cnbc.com, independent.co.uk