Ferrari stock drops ~16% for the first time

Italian luxury car maker Ferrari had its worst trading day ever on Thursday, with shares falling nearly 16% in Europe and the US. It came after it lowered electrification goals and provided new revenue guidance that missed Wall Street expectations.

The company projected a 2030 revenue of $10.4 billion, missing analysts’ target of $11.3 billion. It expects to make $8.2 billion this year.

Ferrari revised its 2030 lineup to 40% internal combustion, 40% hybrid, and 20% fully electric vehicles, down from a previous goal of 40% EVs.

It also revealed the production-ready chassis and powertrain for its first electric model, the “elettrica,” which is expected to launch in the next few years.

Despite the stock drop, Ferrari remains Europe’s most valuable car company, ahead of competitors like Lamborghini and Porsche.

Analysts remain optimistic, citing strong demand, Ferrari’s leadership, and plans to launch multiple new cars annually. They believe the company’s focus on innovation and strategic growth could drive long-term success, even amid a conservative outlook.