Can’t Afford a Vintage Ferrari? How About Buying a Share for $80 [Bloomberg Business News]
Barclays PLC (BCS)
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Source: Bloomberg Business News
Rally Rd. isn't your typical Manhattan investment firm. Its 15 or so employees slouch in T-shirts and baseball caps in front of their computers. Framed photos of vintage Mercedes-Benz models – oversized for the narrow office – adorn the white walls and hanging gardens are due to arrive shortly in the mail. Another thing that sets them apart: The people at Rally aren't picking stocks and bonds. They're looking for mint-condition antique cars. Rally Rd.'s smartphone app, launched for iOS in late 2017, allows individual investors to buy shares in luxury and collectible vehicles. After swiping through glossy images on the app, a stake in your dream car can be had for as little as $38.80. The total prices, or "market caps," of the cars range from $77,000 for a 1977 Lotus Esprit S1 to $495,000 for a 1993 Jaguar XJ220 – sums that, if purchased in full, would be out of reach for many lay investors. 1993 Jaguar XJ220 Source: Rally Rd. "It just wasn't legally and te
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- 4/25/24 - Form 6-K
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- BCS's page on the SEC website