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

Sergio MarchionneBill Pugliano/Getty ImagesFCA CEO Sergio Marchionne.

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.

The stock hit the NYSE at about $US9 per share. It closed on Wednesday just below $US12. Since the Ferrari announcement, shares have been trading between $US11-12, 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.

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