Reginal Thomas
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Ferrari IPO is open at $53

Ferrari, an Italian based luxury carmaker, plans to price its initial public offering as high as $53 per share. At that price the firm would be vauled at $10 billion. The price is slightly higher than the previously priced range of $48-$52 per share. Ferrari will start trading as a public firm on Wednesday. Demand for the shares is already at a frenzy, because some many people want to own a piece of the company that represents the superrich and opulence.