Ferrari has blown past former parent Fiat Chrysler Automobiles in the race that might matter most — market capitalization.
Ferrari was spun off from FCA in late 2015, and its stock has been on an absolute tear since early July, when it was trading at around $85 per share. Last week, the Prancing Horse reached nearly $112 a share, giving it a market cap of over $21 billion. Meanwhile, FCA's share price, which was under $10 per share in late April, was trading over $12 per share last week, giving it a market cap of about $18 billion.
Ferrari's valuation began to overtake that of its former parent in early May. Like an F1 race, the companies have traded paint — and position — from May to July, when Ferrari finally began to put some separation between itself and FCA.
At the wheel is Sergio Marchionne, CEO of FCA and Ferrari.