Ferrari's Share Price Drops After Revision of Electric Vehicle Ambitions
Ferrari's share price took a significant hit, down 15 per cent, following the reveal of the architecture underpinning its first fully electric vehicle, despite strong sales and increased annual guidance.
The brand had lifted its annual guidance and laid out more ambitious long-term revenue and profit targets, but investors reacted negatively to the revised expectations for the transition to electric production.
Notably, Ferrari cut its 2030 target from 40 per cent to 20 per cent, which seems to have driven the negative reaction.
Investors have reacted negatively to Ferrari's revised expectations for the transition to electric production.
Author's summary: Ferrari's share price drops 15% after revising electric vehicle ambitions.
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