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Ferrari might have the best stock ticker symbol in history

Ferrari will cash in on it racing roots with RACE stock market ticket symbol.
Ferrari will cash in on it racing roots with RACE stock market ticket symbol.
Dan Istitene/Getty Images

Ferrari, a longtime force in Formula One, is making a splashy statement on Wall Street. Ferrari is expected to cash in on its motorsports heritage when it debuts on the New York Stock Exchange under the stock ticker symbol "RACE" later this month. Reuters reports that Ferrari is planning to debut in its initial public offering at a value of up to $9.8 billion in the second half of October, according to its IPO prospectus, which was submitted on Friday.

Ferrari's racing roots date back to its founder Enzo Ferrari, who was a race car driver for Alfa Romeo and built the Italian luxury brand around its products' propensity for delirious performance and speed. He launched the Scuderia Ferrari racing team in 1929. While Ferrari has kept its production numbers on its cars purposely low, its prancing horse logo has created a merchandise goldmine. Racing is what continues to make its exotic production cars so appealing. Many of its owners race in a company-sponsored series. Meanwhile, classic Ferrari cars have been shattering records at auctions: Last year, a 1962 Ferrari GTO Berlinetta sold for $38.115 million dollars at the Bonhams auction, making it the most expensive car ever sold at auction.

Ferrari's racing roots date back to its founder

Ferrari joins the ranks of companies that understand the value of its marketing cache to its investors. Harley Davidson goes by its beloved biker moniker "HOG" and Southwest Airlines lists as "LUV," a nod to the company's ties to Dallas Love Field. It's likely that many aspiring hedge funders' blood will boil at the incentive to trade on Ferrari as "RACE" pops up on their screens, with an estimated price of $48 to $52 per share, according to Reuters.

Ferrari's current parent company, Fiat Chrysler Automobiles, will spin the entire brand off by next year. Piero Ferrari, the son of Enzo, will maintain a 10 percent stake in the company. Enzo long ago forbid his son from becoming a race car driver — proving that it generally pays off to sit in the owner's suite, rather than to play for the team. Over the weekend, Ferrari driver Sebastian Vettel earned a second-place podium finish at the F1 Russian Grand Prix.

Verge Video Vault: Ferrari 488 supercut at the Geneva Auto Show