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Ferrari has shut down a methane gas-fueled electricity generation plant its home town of Maranello as it aims to double its solar power production, the Italian luxury sports carmaker said on Tuesday.
Ferrari, the biggest merchant of super expensive super cars, has also become one of the most expensive companies in Wall Street. Its stock has jumped by 40% this year and by 736% since going public almost a decade ago.
Ferrari is planning to enter the electric vehicle market. The automaker's margins dwarf those of its competitors.
Ferrari's stock has risen ninefold over the past nine years. Its scarcity and pricing power sets it apart from other automakers.
An early gain at the starting line left our Ferrari trade with a good finish.
Tapestry owns famous brands such as Kate Spade and Coach and has been delivering solid growth over the years. Ralph Lauren is a luxury apparel brand that has broad appeal and is steadily growing its worldwide presence.
Strong revenue and earnings growth have propelled Ferrari. The company's brand stands for exclusivity, leading to impressive pricing power.
Rising profit estimates, stock buybacks and EV ambitions have sent Ferrari stock to record highs.
Ferrari reported strong second quarter results, beating estimates with revenue growth, margin improvement, and EPS growth. The company's unique business model, scarcity of products, and control over sales contribute to consistent growth and margin expansion. Analyst consensus on Ferrari's valuation and growth potential is underestimated, with the company expected to outperform expectations in the future.
At the moment, the concept of acquiring auto stocks might seem counterproductive. After all, the consumer economy is struggling under the weight of inflation and high borrowing costs.
Ferrari (RACE) boosted its full-year guidance when delivering second-quarter results that topped revenue expectations on Thursday.