A little over a month since launching its IPO on the New York Stock Exchange, Ferrari applied to list its stock on the Borsa Italiana in Milan.
When we want to know how a car company is doing, one thing we typically look at is how many cars it's selling. That means Toyota is the largest, General Motors the second, followed by Volkswagen, then down the line. But there are other metrics by which to evaluate how an automaker is doing. That, in the case of publicly-traded companies like GM, is stock price. And the General seems to be doing pretty well.
After 25 years and having been a member since the CAC 40's inception in 1987, on September 24, French carmaker Peugeot will be officially delisted from France's benchmark stock index. The CAC 40 is a collection of the 40 companies with the "most significant values" among the top 100 firms by market capitalizations listed on Euronext Paris (the French stock market). Peugeot has been struggling, and that's putting it kindly. With a first-half loss this year of €819 million ($1.047B U.S.), its
Analysts have been wondering when Chrysler would go public, and new CEO Sergio Marchionne has an answer: not soon. Some have speculated that Chrysler shares would be available on the stock exchange by the end of 2010, but Automotive News is reporting that Marchionne is giving a timetable of "not sooner than 2½ years." Marchionne obviously wants to hold off on going public until he and Chrysler's board of directors feel the company will command the appropriate value.
With both evidence and speculation mounting that General Motors and Tier-1 supplier Visteon Corp. have bleak futures, both companies' stock shares continue to get hammered, with GM's shares trading as low as $1.40 Friday morning and Visteon dropping from 7 cents to 2 cents on Thursday. For GM, that's its lowest price since May 23, 1933, and the price for Visteon is so low that the New York Stock Exchange delisted it – its last day on the exchange was yesterday.