Retail traders love brands and admittedly Ferrari is a glamorous and exclusive name to have in an investment portfolio.
Ferrari shares will be traded on the New York Stock Exchange from Wednesday and are expected to be priced in the range of $48-52.
Given the speculation around this IPO, investors are perhaps ready to rush in to buy Ferrari shares. If having a blazing-red Ferrari is a dream for many of us, owning the shares of the company could not be a major hesitation.
Hence, the price could well rise above the upper target range of $52.
After all, Ferrari is a luxury brand and we wouldn’t be surprised to see investors ready to pay the high price to acquire its exclusive shares.