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Ferrari Shares Are Ready to Accelerate Higher

Shares of the luxury performance sports car manufacturer Ferrari (RACE) became publicly traded last October and despite their storied racing name proceeded to accelerate lower right from the start. The steady series of lower highs and lower lows took the stock for a bumpy ride from its $52 IPO price down to the $32 February low this year.

This is not performance usually associated with the Ferrari racing name, but the stock looks ready to shift to a...