Ferrari Shares Tumble by as Much as 6% After Luce Model Unveiling

Ferrari shares fell by as much as 6% on May 26 as it unveiled its new Luce EV model. Priced at ~$640,000 the Luce is slated to be delivered during the fourth quarter. “Ultimately many fans are disappointed that Ferrari is embracing the EV concept, believing it dilutes the supercar brand, which has modelled itself around classic design and raw, combustion-engine power,” Michael Field, chief equity strategist at Morningstar, said (more).