Ferrari's earliest investors are losing money

Ferrari shares slipped below their initial public offering price on Tuesday.

The stock had been priced at $US52, the higher end of expectations, ahead of its first day of trading last Wednesday.

In trading Tuesday, it fell by as much as 7% to around $US51.41 per share.

And so, investors who bought early are back where they started on paper.

The stock opened at $US60 per share at its IPO last Wednesday and rallied 15% on the first day.

On Monday, Ferrari announced that it was closing the initial public offering of about 19 million common shares.

Here’s a chart showing how its traded so far:

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