Ferrari shares drop after unveiling first fully electric vehicle, the Luce

Summary

Ferrari shares fell sharply after the company unveiled its first fully electric vehicle, the Luce, at a launch event in Rome. The EV marks a significant departure from Ferrari's traditional aesthetic and comes at a time when other luxury automakers like Porsche and Lamborghini have scaled back their EV plans due to weak demand. The stock decline suggests investor skepticism about Ferrari's pivot to electric mobility.