Ferrari News & Analysis
2 articles
Market Mood
Ferrari (RACE) Stock Drops 8% Following Luce EV Launch Event
Ferrari (RACE) unveiled its Luce electric vehicle at an exclusive event in Rome, highlighting a significant shift for the brand. However, the launch resulted in an 8% drop in the company's stock on the following day, reflecting investor disappointment. The Luce is priced at 550,000 euros and is noted for being Ferrari's first five-seater model. Though the launch aimed to showcase innovation, it faced criticism on social media, impacting market sentiment regarding Ferrari's future in the EV sector.
Read More: Ferrari (RACE) Stock Drops 8% Following Luce EV Launch Event
Ferrari (RACE) Shares Fall 6.1% After Electric Vehicle Launch
Ferrari (RACE) shares declined 6.1% following the launch of its first fully electric vehicle, the Ferrari Luce, in Rome. This launch marks a significant shift in the company’s approach and comes during a period where other luxury car brands, such as Porsche and Lamborghini, have reduced their EV plans due to weak demand. Over the past year, Ferrari's stock has decreased nearly 27%. CEO Benedetto Vigna emphasized the importance of the launch and the intention to balance the interests of both new and existing clients.
Read More: Ferrari (RACE) Shares Fall 6.1% After Electric Vehicle Launch