Ferrari Surged 15% at its Trading Debut
Ferrari opened at $60 per share at its trading debut on Wednesday, 15% above its initial-public-offering price of $52.
The luxury-sports-car maker had priced its IPO at the higher end of the expected range of $48 to $52. It was indicated to open between $59 and $62 per share.
The stock traded with the ticker RACE.
It closed up about 5.7%, giving the company a market cap of about $10.4 billion.