Ferrari $RACE reported record results for Q3 2023. Sales reached 1.54 billion euros ($1.55 billion), up 23.5% year-over-year. Vehicle deliveries were up 8.5% year-over-year. Adjusted EBIT was €423 million ($426 million), up 41.6% year-on-year. Adjusted net profit was 332 million euros ($334 million), up 45.7%. Holt is probably getting more people who can/want to afford it. I... Read more
Shares of $RACE have gained more than 30% this year, which is very solid, and the company's stock has been rising for a long time. However, the stock currently strikes me as expensive.
Would it make sense for you to have $RACE stock in your portfolio and if so, at what price would you overbuy?
Luxury brands and goods work great, but cars aren't far behind either.
Ferrari $RACE has been breaking through the stable to new heights in recent months, and the current trend seems absolutely unbreakable. The stock has gained over 40% since the beginning of the year.
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