Ferrari (RACE) shares closed at €295.20 in Milan on Friday, May 30, 2026, gaining 0.53% for the session but posting a 2.11% decline over the past five trading days. The stock's U.S. listing ended the week at $340.23, down 1.77% on the day and 2.30% lower than the prior week, according to market data.
The decline followed the unveiling of Ferrari's first all-electric vehicle, the Luce, a four-door, five-seater priced at €550,000 (approximately $640,000). The launch sparked investor concerns about brand fit and the company's electric vehicle strategy, sending shares down 8.4% on Tuesday.
CEO Benedetto Vigna sought to reassure the market two days later, stating that the Luce had generated "strong interest, including from new clients," after showcasing the model to 1,600 customers in Rome. "We've already received bank transfers," Vigna said. Ferrari expects to provide firmer order numbers in July, with deliveries slated to begin in the fourth quarter of 2026.
Market Context and Analyst Views
Ferrari underperformed broader indices during the week. Italy's FTSE MIB rose 1.06% over five sessions, while the STOXX Europe 600 Automobiles & Parts index added 2.17%. The stock's decline came amid a broader debate about luxury EV demand, with peers Porsche and Lamborghini having scaled back their own electric vehicle plans.
Despite the market's initial reaction, several analysts saw opportunity. James Grzinic of Jefferies maintained a Buy rating and €350 price target, calling the Luce a potential "recruitment tool" for new customers. BofA Global Research described the selloff as "overdone" and retained its Buy rating. UBS analyst Zuzanna Pusz noted "stable underlying loyalty" but limited near-term excitement. Berenberg's Michael Filatov argued the backlash "may not matter for the investment case," given Ferrari's plan to produce fewer than 1,000 Luce units.
Financial Position and Outlook
Ferrari reported first-quarter net revenue of €1.85 billion and EBITDA of €722 million, reaffirming its financial outlook through 2026. Customer orders currently extend into late 2027, indicating sustained demand for its traditional models. The company's second-quarter earnings are scheduled for July 30.
The key question for investors is whether the Luce's initial controversy will translate into weak orders or instead expand Ferrari's customer base. If early demand proves robust, the stock could recover; if not, doubts may emerge about Ferrari's ability to maintain pricing power while investing in costly EV technology. For now, traders are focused on order flow and broker commentary for direction in the coming week.
