RACE - Why I'm Not Selling My Ferrari Stock Even After a 100% Gain
2024-06-01 02:57:00 ET
Back in early 2022, I started to accumulate shares of the luxury supercar maker Ferrari (NYSE: RACE) . At the time, I thought it was a safe place to park my cash as inflation, rising rates, and geopolitical conflicts rattled the markets.
I now have an unrealized gain of more than 100% on that position. It might seem prudent to take profits in Ferrari right now as its stock trades just 5% below its all-time high, but I'm not selling it for five simple reasons.
Image source: Ferrari.
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Why I'm Not Selling My Ferrari Stock Even After a 100% Gain