Ferrari's Share Price Takes a Hit
Ferrari's share price dropped 15% after the company revised its electric vehicle ambitions.
Despite strong sales in key markets and increased annual guidance, investors reacted negatively to the revised expectations.
Investors have reacted negatively to Ferrari's revised expectations for the transition to electric production.
- Ferrari cut its 2030 target for electric production from 40% to 20%.
- The company continues to sell strongly in key markets around the world.
- Ferrari lifted annual guidance and laid out more ambitious long-term revenue and profit targets.
Author's summary: Ferrari's share price fell due to revised electric vehicle targets.