Another “no brainer” bites the dust. Ferrari is halted limit down in Milan trading and is crashing in US trading – now down over 40% from its “successful” IPO day highs…
Carnage…
Or Carnage…
- *FERRARI SUSPENDED IN MILAN LIMIT DOWN
Down 40% from IPO day highs…
Blame The Chinese –
- *FERRARI 2015 CHINA SALES DOWN 22%, JAPAN UP 33%
- *FERRARI 2015 SALES UP 7% IN AMERICAS
So The Chinese are no longer expatriating their devaluing cash into Ferraris (because the government is cracking down on graft and conspicuous consumption is never a good thing when corruption means death)… but it appears The Japanese elites know full well the utility of transferring a collapsing Yen into “Hard Italian Assets” which are relatively easy to transport out of the country?
The silent bank run accelerates.
via Zero Hedge http://ift.tt/1VHdlIv Tyler Durden