TheStreet had a 488 Spider in its possession for a weekend -- all $400,000 of it (as tested) -- and quickly realized how the other half lives. The 488 Spider yearns for a day at the track, but is OK turning heads down side-streets at 30mph. The 488 Spider zips from 0 to 124mph in about 8.7 seconds.
Be sure to stay on the lookout for TheStreet's full review of the 488 Spider due out soon.
The Scoop on Ferrari's Stock
Wall Street has sent the the supercar maker's stock up an impressive 145% since the company went public in late Oct. 2015. For Ferrari, its public company success under former CEO Sergio Marchionne -- who recently passed away after complications from shoulder surgery -- can be boiled down to an expanded product line and the rising wealth effect among consumers.
Ferrari isn't just a car company, it's a lifestyle brand then CEO Marchionne told TheStreet in an interview in Oct. 2017. Marchionne used that lifestyle brand positioning to introduce new Ferrari models and play up its racing heritage across general merchandise.
Ferrari has also enjoyed the benefit of a higher stock market, which has fueled solid demand for pricey supercars.
Ferrari saw shipments gain a solid 5.6% in the second quarter, driven by increases around the globe. The 488 family and the 812 Superfast were the main accelerators behind the quarter. Adjusted operating profits rose 7% in the second quarter.