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Ferrari Prices IPO At $52 (Upper End Of Range), Raises $893 Million
With the ticker symbol RACE, what could possibly go wrong?
With Tesla tanking, what better option that this...
- *FERRARI RAISES $893 MLN PRICING SHARES IN IPO
- *FERRARI PRICES 17.18 MLN SHRS AT $52 EACH IN U.S. IPO AT TOP OF RANGE ($48-52)
There was some talk of a higher price...
- *FERRARI IPO EXPECTED TO PRICE AS HIGH AS $53/SHR: CNBC
We just wanted an excuse to post pictures of the cars...
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Isnt it a little late in the bubble for this kind of shit? I get it with trendy tech companies, just shysters looking to cash out quick, but ferarri?
FERRARI - From Extra Rusty Rubbish And Rude Italians
FERRARI - Not a car with nearly enough clearance to ride well over the potholed streets of tomorrowland.
#BlackLivesMatter launches protest against Ferrari for using "RACE" to make money.
(Laugh now; it's a headline I expect any moment now)
Post of the day right there.
The current owners get to sit on a pile of cash and watch the stock become worthless.
im sure they are fun until they self-immolate.
QE4 should put a few more Ferraris in garages.
I don't understand why they're so popular.
Everybody has a red Ferrari these days!
In few few years they will all be SUV's or crossovers with automatic transmisisons, and a GM v-6.
Maximizing shareholder value requires building to the lowest common denominator.
Cashing out an waiting it out.
sound business model for sure...
and the US economy is so great there will be a Ferrari in every garage...
and a flat screen in every room...
fuck off...
its not supposed to be in everyones garage.
They see the rise in inequality and the new world economy is up and running. Ferrari makes hyper cars for the wealthy now. Soon they will have an opportunity to create a plaything for the hyper wealthy.
yeah...
well r they brick and bullet proof too????
Ferrari's cant protect u from "The Road"....
big picture homie....big picture.
lol. "Let them drive Ferrari's. "
Good luck with that. Better have an Apache following close behind for support.
Exactly!
last thing u want now and in the days that lie ahead is any material possesion that screams,
'Look at me - i got money and you dont..."
I can litterally walk to my local dealer (its on my jogging route) and in fact did once for an invite to the FF unveiling. There are no worries about "Apache" aircover here. Oh no...
Maybe you should upgrade your neighborhood?
Kaiser, you need to move out of the hood son!
You lament Ferrari because isn't "brick proof". What is? Anyhow, how about lamenting that the fucking brick throwers are your neighbor? No brick throwersw live near me. Not by a long shot. A shit ton of brick layers and every construction service truck creating traffic, brick throwers not so much...
wow...u got gps, or satellite imagery of where i live???
hint - i dont live in the hood man...though everywhere will be the hood shortly....
u must own some Ferrari stawk or something...ur angst should be at this Wall St./Banker shit show that has reduced this country to a serfdom with "just add water" brick throwers in the waiting...
u r free to believe in these fake ass markets and take from this story whatever u wish man...more power to ya....
ps: i dint down ya...it aint that serious to me.
And now they stop making great cars because they need to cut corners to maximise shareholder returns
Great sports cars don't come with cup holders, CD players, and automatic transmissions.
They've been selling out for a quite a while, just like every other "luxury" conglomerate.
I think the 458 Speciale would take serious iissue with your comment...
As far as machines go, the mechanical precison of a Ferrari is unfanthomable.
Unfortunaly so is the capital misalocation of buying one.
It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of Light, it was the season of Darkness, it was the spring of hope, it was the winter of despair, we had everything before us, we had nothing before us, we were all going direct to Heaven, we were all going direct the other way- in short, the period was so far like the present period, that some of its noisiest authorities insisted on its being received, for good or for evil, in the superlative degree of comparison only.
what the hell did u say???
s a r c.
Precision and performance comes at a cost. I hope i make you smile with this little factoid:
Clutch has to be replaced every 6000 miles. $15k right there.
One of my buds once owned one and said the very same thing. The cost of even the most negligible repairs was so inordinately huge, it took the "fun" out of owning it. I believe that his model's engine needed to be lifted up off the mounts for access to change the oil filter. Now, I remember changing the oil in my 67 Mustang. Y'all remember looking under one of them hoods? Hah!
I have owned two, a 360 and a 458. Those are iterations of the entry level mid engined v8 Ferrari. The model before the 360 required you to drop the engine out to change the timing belts, a service required every three years. Also known as the wallet out service.
Owners put up with the expense because the car had fewer comromises than any other street legal car. All cars are compromises between performance and practicality. The F-car is far along the line towards performance.
By the time you get to the 360 (yes the clutch is expensive and goes in 20 or 30K miles) it is much better. The 458 has no timing belts to replace and a wet clutch. It is an expensive car, expensive to own and insure. It also puts a grin on your face every time you drive it.
Ferraris have become another financialized bubble product, older models are sold at record prices. Any 30 year old car that isn't a "Dino" pass de million mark quite easy.
Still, an italian V8 has a lovelly sound.
Also, this will change now that they are public, Ferrari was a master at marketing. Its logo is more recognized than Coke-Cola. In the boom times when I bought my used 360, you had to have purchased a used Ferrari to even place an order for a new one. No matter how much money you had you could not go into a dealer and buy a new Ferrari cold, existing customers only. Then there was a year wait for delivery. When the early 360 purchasers got their cars they could "flip" them, immediately sell them for $100,000 over what they paid because they could deliver their used car immediately.
My 360 was five years old when I bought it. I paid slightly over list price when it was new. It had under 3,000 miles. When I bought insurance the underwriter was confused at my paying more than the price of a new one for a five year old one. "Welcome to the world of Ferrari" I said.
As a stock, I suspect Fiat loaded up debt on Ferrari and sold it. It is a great brand and glamourous but they already announced increasing production to 9,000 cars from 6,000 which is a big increase and a hit to their exclusivity. Looks like people milking a good thing.
Modern Ferrari warranties go for 7 years and can be extended to 12.
This of course depends on the model. I changed mine for $1500. Also a clutch should last well over 50,000 miles if driven. That's right, clutches on these things go bad when they're NOT driven.
That's why I own "The Poor Man's Ferrari." A modified 1991 Toyota MR2 with a swapped 1993 Lexus ES300 V6 engine. Hauls ass, great on gas, rarely seen on the street & best of all, paid off. Not a single dime owned to the Criminal Psychopath Banksters.
That's a cool swap. Anyone who hasn't driven a lightweight, hotted-up mid-engine buggy like that probably has no idea the IMMEDIACY with which such a car can change directions, accelerate or brake. It's not like driving a Vette or a Viper or even a rear-engine Porsche. It's its own animal.
My brother and I have done a couple of Fieros swapped with Small Block Chevys, one Buick 3800 V6 and one with the 3.4L Twin Dual Cam V6 out of a Chevy Lumina Z34 that then had a turbo affixed to it's exhaust and run by a stand-alone aftermarket engine management system. It weighted in at 2400 lbs. Sure, there were faster cars in a straight line but eating 800HP Porsches and Vipers around a road course was not uncommon in that deathtrap. On a set of well-used NASCAR ultralight racing slicks it would pull more than 1.2G lateral with no aero.
My old school favorite was the Fiero GT V6. Passed up too many of them back in the day. Would have been cool to do a full engine swap on one of those.
These days I have a current model Eclipse as a "back and forth to work" car. Anemic for power. But, I suppose it satifies the kid in me that always liked the little sports car thing. Great stereo too. Next commuter car has to have some power though. I just couldn't pass this one up because it was cheap and well maintained. Daughter took my little SUV. Glad to give it to her... better safety rating.
ATS Racing
https://m.youtube.com/watch?v=QvVQotvAMq8
This is insane.
Sounds awesome!
I used to ride a 1970 mustang with a GTR R32 twin turbo my buddy and I were able to squeeze in. Lots of hours spent cutting custom brackets to hold that monster in.
Hilarious to pull up next to a 911 and leave it in the dust.
Several friends of mine did the same to an 2002 M3 chassis, but with a VR38 GTR engine.
Driven several ferraris, lambos, and mclarens. Mclarens by far the best IMO. But none of these machines are meant to drive around the city. Everytime I see that I have to laugh at the idiocy. They were all built and tested on the track.
You want to drive around the city in a sports car? Either soupe up an old car or get an M3 or 911. At least these were tested on gravel and you can get some mileage out of them before any major repair. Every mile you drive a supercar in the city, you lose $100 per mile for general wear and tear and are asking for an accident. Also the breaks will wear out insanely fast, oil has to be changed every 2000,3000 miles (for peak condition). Magnesium CO2 filled sport tires will cost you 3k apiece (easy) and are only rated for about 5-10k. Insurance will cost you 10-15k a year depending. Its a money pit.
Always love to see young people buy a M5 or sl550 on an 90k/year salary only to realize that although they can afford the downpayment/lease, they cant afford the maintenance.
@ NoDebt,
Absolutlely. Howver, these cars are notoriously known for massive snap oversteer so one must not push ones own driving ability. That said, Mid- Engine cars are a hoot to drive unlike any other vehicles.
Town I live in holds two car shows a year with a red Fiero with what I believe to be a small Block Chevy engine from a Vette.
Here's mine. Enjoy.
https://m.youtube.com/watch?v=r7ovgKo_SSw
"Anyone who hasn't driven a lightweight, hotted-up mid-engine buggy like that probably has no idea the IMMEDIACY with which such a car can change directions"
Yes they change direction -- IMMEDIATLY BACKWARDS -- like no other car out there...
Mid engine cars that aren't sorted via computer are notorious as snap-overstee-ass-end guard-rail-testers...
Chev small blocks are V8s. The V6 ain't a small block.
The great thing about that car is you can lift it over your head and walk out of traffic. Also fits in most elevators.
HA!
my father has had several MR2s in his lifetime. Great cars. Except the spyder one.
Word is that Fiat-Chrysler wants the funds to expand the Jeep brand around the world (read: China). Apparently Jeep isn't nearly as "iconic" outside of North America as it is inside it.
Why they don't just get some of that NIRP money they're handing out in Europe right now to finance the expansion, I couldn't say. I think they just realize that the Ferrari brand name has had it's value as jacked up in to the stratosphere as the current bubble is going to get it right now.
Jeep used to be good.
Now they are some of the worst cars on the market. They look OK though.
But seriously, really god awful cars. Super heavy, always underpowered, and have a shitty transmission.
Jeep has "iconic" automatic transmissions. I knew people with Grand Cherokees that failed often.
True, I read somewhere that this is a way to get funds for the Fiat-Chrysler marquees, though not specificality to Jeep brand.
They've yet to do anything meaningfull with Alfa Romeo and they're pratically shutting down the historic Lancia, which will only exist in Italy with a city car of some sorts.
RACE to the bottom. Market top dead ahead cagnaz.
Want to make money on a Ferrari? Buy an "analogue" version with less computers and a stick shift. They are exploding in price. New Ferrari's depreciate like balls.
It's completely normal that a historic racing company that sells million dollar egineering wonders is valued less than tech startups that have negative revenue.
Mining the earth and manufacturing something tangible is clearly worth less than ad pageviews.
Another Pussy Wagon to go with your Tesla
Tesla a pussy wagon?
No way.
Chicks are pretty desperate out there.
What will they do when shareholders want a 75k ferrari to compete with Mercedes and BMW? Exclusivity is their game and answering to shareholders poops on it
They will say there's a Dodge Hellcat for that...
BTW. I'm going to wait for the 2017 Hellcat to buy one. Thats the final year and that will be the end of >700HP non hybrid ICE muscle cars. Might wrap it in plastic and put it in a light proof room.
Every young trader wants one. Another toy in their collection thanks to the Federal Reserve.
this company is the antithesis of a high-growth, mass market company. it makes no sense for a company like this to be public. All the filings, SarbOx. and scrutiny and activist investors. Makes no sense at all unless the insiders just wanted a cash-out. I am sure they had some great investment banking advice with slick analysis showing this was the way to go.
Ferrari is owned by Fiat.
Fix It Again Tony
just like ferrari.....not so good
that's my point, they are owned by a public company and said public company wants to sell it. Seems like a good niche investment for some billionaire's bragging rights. Once they are sold and on their own the required growth rates will tank the scarcity premium they currently command. Or they'll have to save money to improve margins, producing lower quality.
I like picture no. 7, I think it's smiling at me.
That red FF is awesome. Four wheel drive and seats four.
I like sports cars. While I was in high school, I worked two jobs in order to get the money to buy one. I chose a yellow 1969 Triumph GT6+ with magnesium rims(mags were a recent invention). I used to race a friend of mine who had a TR-4 down a winding road out to Sandbridge near Virginia Beach, VA.
My friend sold his TR and bought a !966 Shelby Mustang GT-350, which he let me take for a spin. Incredibly fast car for which he paid $660.00, used and in perfect condition. Smart guy...
Ferraris remind me of the Bordeaux wines I was drinking in the early 1980's. At $20/bottle, fantastic. At $400/bottle, you do not buy them unless you're a moron. Similarly, if I want to sit in traffic, which is what driving is all about in this day and age, especially in the NYC vicinity, I do not need to blow hundreds of thousands of dollars on automotive artwork. It would be like wearing high fashion clothing to McD's...stupid. Sitting in traffic never gets better, no matter how much you blow on your wheels.
YAWN, this is just an insider cash-out. Puttng RACE in your portfolio is like marrying a trophy wife- great to look at first but eventually she'll eff you financially.
Extra, Extra.
Read all about it.
http://www.sec.gov/Archives/edgar/data/1648416/000164841615000004/000164...
Click on the F1 link to see the Preliminary Foreign version of the S1.
Some nice full sized pictures they used in the F1 are in this link as well.
This is an initial public offering of common shares of New Business Netherlands N.V., to be renamed Ferrari N.V. (“Ferrari”) shortly prior to completion of the offering.
Kinda sounds like a little bit of the Google/Alphabet nonsense.
any models under $17,999?
I want a jap version of a ferrari ...
Dinner time chat at the table for the ultra 1% wealthy...Daddy to 16 year old daughter... Julie...what do you want for your birthday? A red two door Ferrari. OK..let me call Janet Yellin and see if we can arrange for the taxpayers to fund your birthday present...and life goes on...
RACE? Get the Fuck Off of My Planet, Fidouchebags!!
Now the only ipo left is TROJAN!
Ferrari will be making a car to compete in the range of the 911 Turbo in the next couple of years. V6 or V8 turbo, around $200k. This is how they will get to the productions numbers without harming the brand. A remake of the 246 GT (Dino) so to speak.
What could possibly go wrong?
The Environmental Protection Agency could figure out that their emmissions software is rigged just like VW rigged theirs, that's what could go wrong.
Nash Metropolitan
Somebody in Maranello did the math and is cashing out-before what and when tho?!