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Shares in Fiat Chrysler Automobiles (FCAU) dropped 37% on the Milan exchange in the first day of trading in 2016,afterthe company took outits Ferrari stake.
Even as Sergio Marchionne and John Elkann were ringing the opening bell to celebrate the addition of Ferrari (RACE) to the Italian exchange, FCA shares were already falling from an opening that was 31% lower than the last day of trading in 2015.
According to figures obtained by Allpar from the Borsa Italiana, shares in FCA opened at about $9.68, closingat $8.83, down 37% from their $14.08 close on December 30.
On the New York Exchange, FCAU closed at $13.99 on December 31 and fell to $9.15 in after-hours trading. (...) →
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Even as Sergio Marchionne and John Elkann were ringing the opening bell to celebrate the addition of Ferrari (RACE) to the Italian exchange, FCA shares were already falling from an opening that was 31% lower than the last day of trading in 2015.
According to figures obtained by Allpar from the Borsa Italiana, shares in FCA opened at about $9.68, closingat $8.83, down 37% from their $14.08 close on December 30.
On the New York Exchange, FCAU closed at $13.99 on December 31 and fell to $9.15 in after-hours trading. (...) →
More...