Buy Ferrari Stock After Scuderia-Velas NFT deal? Should you buy Ferrari (RACE) now?
This story originally appeared on Zacks
Hey everybody, Dave Bartosiak with Trending Stocks at Zacks.com. Most of you out there think you know what a Ferrari RACE is, but only a few of you actually know what a Ferrari is like. Growing up in Chicago, I think I saw a 360 Spider once downtown and thought I had won the lottery. Nowadays, even entry-level Ferraris like the Roma are going to set you back $300k with a decent spec. I know Ferrari Financial works wonders but most of us are not going to stroke a $4,000 check every month for the privilege of putting 150 miles a month on one. Go a little further up the food chain, and you're talking three-quarters of a million for something like the SF90.
Who needs a real world Ferrari anyway when you can get the NFT? Non-fungible tokens were all the rage a few months ago. Ferrari, which loves to license its brand to ramp up profits, has partnered up with Swiss blockchain startup Velas Network to bring the next generation of Ferraris to life.
Velas is an open-source blockchain network with its own native token, Velas. Ferrari announced the deal Monday. It is a multi-year agreement with Velas to jointly issue exclusive digital content for Scuderia Ferrari, the racing arm of Ferrari.
This is exciting stuff for Ferrari as the Scuderia looks to be competitive in 2022. As long as the FIA doesn't decide to change the rules mid-race next year again to hand Max the title, Ferrari should be in the hunt. They could be a big story in the metaverse and allow investors yet another opportunity to profit.
Let's take a quick look at Zacks.com to see how Ferrari's numbers have been stacking up.
Every time you share this video, somebody well deserving gets an allocation on a digital version of a Ferrari they've always wanted. Subscribe to the YouTube channel, Twitter @bartosiastics, and check out www.zacks.com/promo for this week's deal on Finding #1 Stocks for free. With Trending Stocks, I'm Dave Bartosiak.
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It's bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is "Will you get into the right stocks early when their growth potential is greatest?"
Zacks has released a Special Report to help you do just that, and today it's free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.
Download FREE: How to Profit from Trillions on Spending for Infrastructure >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Ferrari N.V. (RACE): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
