Ferrari shares pulls ahead up 17% before hitting the breaks

marketsforu

Shares in Ferrari climbs up 17% within the first 30 minutes of trading as enthusiastic investors pile into the stock on IPO day.  The shares traded as high as $60.97 but since retraced back to $57.39 as buying momentum faded away from the initial excitement. Despite the slowdown in buying momentum, shares are still trading higher than their initial listing price of $52; the top end of the marketed range. The public listing is set to raise more than $4 billion for Fiat Chrysler which is off to very good start.


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