Ferrari's Share Price Drops After Revision of Electric Vehicle Ambitions
Ferrari's share price took a significant hit, dropping 15 per cent, 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.
- Ferrari cut its 2030 target for electric production from 40 per cent to 20 per cent.
- 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.
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 targets.