Why has Ferrari stock dropped?
Italian luxury carmaker Ferrari’s shares plunged more than 16% Thursday after the firm’s updated guidance for this fell short of the market expectations. Ferrari said that it expects net revenue of at least €7. The primary owner of Ferrari is the investing public, while Piero Ferrari — Enzo’s second son — also holds a significant ownership stake, with Exor N. V. Exor N. V. Fiat’s original founders, Giovanni Agnelli.Piero Ferrari is vice chairman and 10% owner of luxury race car company Ferrari. His father Enzo founded Ferrari. Piero became a billionaire when Ferrari listed its shares on the New York Stock Exchange in October 2015. The company went public as part of a spinoff from Fiat Chrysler.Ferrari Management Ferrari’s CEO is Benedetto Vigna, appointed in Sep 2021, has a tenure of 4. M, comprised of 18. M.
Is Ferrari making profit?
Luxury carmaker Ferrari on Tuesday reported a significant upswing in full-year net profit, citing a strong product mix and growing demand for personal touches to its vehicles. Ferrari posted net profit of 1. While many luxury carmakers struggle with dwindling demand and profit margins, one automaker continues to outshine the rest: Ferrari. According to Ferrari, 2024 was the brand’s record year. With a margin of 28.