Ferrari has gained the number one position outranking both General motors and ford. The market value of Ferrari has passed a massive $30B.
An Italy based sports car maker company Maranello reported a better than expected earnings margin despite this lockdown; which gave a 7% surge to the shares of Ferrari.
Ferrari’s market capitalization hit 30.1B, General Motors 29.8B and the marketing cap of ford fell to 19.2B. The demand in the market for its cars and a very demanding name gives Ferrari an edge to go beyond its competitors by setting margins as high as 24% on its car priced between $215k to 1M.
No doubt in a time of unexpected things, this rise in value is a great source of happiness and hope for the investors.