On the day of Ferrari's debut on Will Street, its parent company FCA recorded a negative session due to b takingsbenefit for the automaker, after the race recorded in recent weeks against the trend of the weakness of the auto sector, brought to its knees by the Volkswagen scandal.
From last September 29 to yesterday FCA, in fact, boasted a progress of 31%. But in today's session, while the Cavallino stock made its debut at 60 dollars a share (eight dollars more than the offering price of 52 dollars, +15%), FCA lost ground in Piazza Affari, closing the session with a heavy fall: - 5,27%. But FCA didn't suffer only in Milan. On the day of Ferrari's debut on Wall Street, FCA shares travel down in New York, losing more than 2% on the NYSE.
In addition to the listing of Ferrari, weighing on the FCA share is also the fine from the EU Commission which just today decided on the matter of the tax ruling, condemning FCA and Starbucks to repay around 30 million euros to the government of Luxembourg and the Holland.
Outside the New York Stock Exchange, Sergio Marchionne commented that afteror the listing of Ferrari on Wall Street, for the parent company Fiat Chrysler Automobiles changes “nothing. We continue to make cars without having the possibility of relying, at least as an image, on a brand of this caliber. Let's go back to being the car nerds”.
