It’s Okay That Ferrari (RACE) Took A Breather, Says Jim Cramer

We recently published 8 Stocks Jim Cramer Talked About. Ferrari N.V. (NYSE:RACE) is one of the stocks Jim Cramer recently discussed.

Luxury car manufacturer Ferrari N.V. (NYSE:RACE) took a breather on Tuesday after it announced its third-quarter profit. The firm reported €382 million in profit to beat analyst estimates of €367 million. Ferrari N.V. (NYSE:RACE)’s latest figures came after a stinging Capital Markets Day in October, after which the shares were down by 15% in Milan. As part of its earnings report, Ferrari N.V. (NYSE:RACE) reaffirmed the €7.1 billion full-year net guidance figure provided in October and added that product differentiation through customization helped with its strong financial performance. Investors were also pleased by the firm’s €670 million EBITDA that beat the €649 million consensus in a Reuters poll. Despite the fact that Ferrari N.V. (NYSE:RACE)’s shares had dipped in October, Cramer commented that the firm had been a winner for a while:

It's Okay That Ferrari (RACE) Took A Breather, Says Jim Cramer

Pixabay/Public Domain

“I think it’s been a winner for so long I think it’s okay that it. takes a breather.”

While we acknowledge the risk and potential of RACE as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than RACE and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.