Bobby Harvey
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Bobby Harvey in Hot Wheels,

Ferrari sets $1 billion IPO. Ticker symbol? RACE

RACE. That's the ticker symbol that Ferrari will use when it debuts on the New York Stock Exchange with a $10 billion valuation within the next few months.

Parent company Fiat Chrysler Automobile (FCAM) said Monday it plans to set a price of $48 to $52 per Ferrari share and intends to sell about 10% of the company in the initial public offering. The company hopes to raise just about $1 billion from investors.

So as for me Ferrari looks overpriced and I won't participate in the IPO. But I'll keep an eye on that RACE for sure ;)