Will Ferrari's shares rise as fast as its first hybrid convertible?
The difficulties that the automotive sector is going through due to the Covid-19 pandemic seem to have had little effect on the Ferrari brand, which can boast of having presented three new models in this turbulent year. The last of them was presented a few days ago: the SF90 Spider, the first plug-in hybrid convertible with a retractable hardtop.
With a power of 1,000 hp at 7,500 rpm, it combines a 780 hp gasoline engine with three other electric motors and state-of-the-art software.
The luxury car brand announced the new model in a virtual presentation on November 12, although it will not arrive in Europe until the second half of 2021.
Ferrari continues to innovate as its shares appear unstoppable on the stock market. Its shares, which have been listed on the New York Stock Exchange since October 2015, under the RACE ticker, have almost doubled in value, in just two years, to exceed $207.
So far, in 2020, they have appreciated more than 25%. Not bad, considering that one of its main competitors, Porsche, has fallen 14% on the Frankfurt Stock Exchange since January. Will Ferrari continue this steady upward trend or accelerate down the stretch of the year with its powerful new Spider?
Source: Admiral Markets MetaTrader 5. Weekly CFD #RACE chart. Data range: from October 18, 2015, to November 17, 2020. Prepared on November 17, 2020, at 12 noon CET. Keep in mind that past returns do not guarantee future returns.
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