Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Fiat Chrysler Automobiles Is Up 30% Since It Joined The NYSE

Matthew DeBordNov 13, 2014, 03:43 IST

Fiat Chrysler Automobiles made its debut on the New York Stock Exchange about a month ago.

Since then, the stock - which represents that official financially conjoining of Fiat and Chrysler after the former took over the latter after the financial crisis - has climbed 30%.

A big spike came a few weeks ago when FCA announced that it would be spinning of Ferrari as a separate business.

When FCA started trading (under the ticker FCAU), it was essentially a mechanism for converting Fiat stock to shares in the new, fully merged company.

Yahoo FinanceUp!

The stock hit the NYSE at about $9 per share. It closed on Wednesday just below $12. Since the Ferrari announcement, shares have been trading between $11-12, for the most part.

Morgan Stanley lead auto analyst Adam Jonas likes the company and in a recent note suggested that it's worth investigating, along with Tesla.