While America was celebrating Memorial Day this past Monday, Ferrari was gearing up to upset not just fans of the brand, but shareholders, too. We’re sure by now you’ve heard the Italian brand famous for V8 and V12 supercars launched a new EV called the Luce, and to say the response has been mixed would be blatantly false; the overwhelming public opinion has been negative. Ferrari has even been slandered by Enzo Ferrari’s successor. But perhaps the most telling response was that of the stock market, which saw Ferrari shares tank significantly within a day of the new car arriving.
A 6% Drop Overnight
Ferrari Stock Price DropCarBuzz
When markets closed in Europe on Monday night, before the Luce’s unveiling, Ferrari NV (RACE) stock value was sitting pretty at 309.20 EUR (approx. $360) per share. But when the markets opened at 9AM the next day, Ferrari’s stock value had dropped by 6% to 290 EUR. And they kept dropping, reaching 283 EUR when markets opened on Wednesday morning.
Clearly, investors aren’t happy, and they’re making their stance known. In isolation, the drop looks terrible, and looking at this week’s stock value graph (above), things are looking rough for Ferrari. But as with all things, you can’t get the full picture from a single snapshot.
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Ferrari’s year-to-date stock values (below) have been erratic, posting sharp increases and decreases pretty consistently as the markets ebb and flow. This drop might have been significant, but it’s far from Ferrari’s lowest point this year. On 2 March, stock values dropped to 273.80 EUR. 2026, in general, hasn’t been a good year for Ferrari, with prices trading at the lowest they’ve been, on average, since January 2024.
Ferrari Stock YTD 2026CarBuzz
A Very Un-Ferrari Ferrari
The stock price drop may seem like a knee-jerk reaction, but it’s understandable in many ways, and possibly because of the way Ferrari handled the Luce’s unveiling. The automaker had already announced several details ahead of time, like detailing much of the powertrain months ago, and showing off the slick Jony Ive interior ahead of time with plenty of support for its tactile design.
But in Monday’s unveiling, Ferrari seemed more obsessed with the design and fact that the Luce could seat five people for the first time in the brand’s history. Performance and emotion were almost a footnote in the presentation.
It all felt very… un-Ferrari. The same can be said of the design, which is not actually as horrible as people are making it out to be. The problem, however, is it seems generic. Take off the badge, and it could be something out of China, or an LA self-driving start-up. We were expecting something like an electric Purosangue, and we got an Apple I-Pace. At least when Lamborghini tried to show off an EV, the Lanzador looked somewhat like a Lambo. And that’s arguably what everyone is most upset about – Ferrari’s newest thing is entirely un-Ferrari.
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It’s worth noting that buyers will speak with their wallets, and the Luce is unlikely to sell in droves. It’ll never dominate Ferrari sales, and it’s not a blueprint for future models, either. And at $640,000 before options, at least it’ll be profitable on a per-model basis. But the brand now needs to work overtime to prove it hasn’t lost its identity if it wants to recover some of the faith investors appear to have lost.
Speaking of faith, Ferrari’s share price recovered slightly since the 6% drop, possibly tied to the presentation of the Luce to Pope Leo XIV. This was accompanied by Lewis Hamilton and Charles Leclerc – drivers in Ferrari’s employ – saying nice things on video. Whether the brand can pull off an actual miracle when people get to drive the Luce, however, remains to be seen.
