Milan, May 30, 2026, 19:02 CEST
- Ferrari’s Milan shares closed at €295.20 on Friday, gaining 0.53% for the session. The stock dropped 2.11% over the last five days.
- Shares slipped after Ferrari unveiled the Luce, its first all-electric car. The four-door, five-seater will carry a €550,000 price tag.
- Markets are closed for the weekend. Investors look to Monday’s open for new signs of order strength.
Ferrari (RACE) starts the week with shares lower after a rare fight over its brand. The Italian automaker dropped after showing off its first all-electric model, the Luce. Stock steadied somewhat after CEO Benedetto Vigna said there was strong early demand.
Trading in Milan is paused, so timing counts. Borsa Italiana puts all Saturdays and Sundays as closing days for 2026, which means investors have to use Friday’s close until markets in Milan start up again. Euronext lists June 1 and June 2 as open for cash market trading in its 2026 calendar.
Ferrari ended Friday in Milan at €295.20, gaining 0.53% for the session. Over the past five sessions, shares slipped 2.11%. The stock’s U.S. listing closed at $340.23, off 1.77% for the day and down 2.30% since last week, according to market data.
Ferrari missed the move this week. Italy’s FTSE MIB climbed 1.06% in five sessions, and the STOXX Europe 600 Automobiles & Parts index added 2.17%. Ferrari finished behind both its local market and the wider European auto group.
Ferrari shares in Milan dropped 8.4% on Tuesday after Reuters said the launch of the Luce, designed with LoveFrom and ex-Apple designer Jony Ive, sparked questions from both investors and critics about its fit with Ferrari’s brand. Fabio Caldato at AcomeA SGR told Reuters the stock was suffering from “an aesthetic disappointment” along with concerns over Ferrari’s EV plans. Reuters
Ferrari CEO Benedetto Vigna responded two days later, saying the Luce had drawn “strong interest, including from new clients,” after the company showed it to 1,600 customers in Rome. “We’ve already received bank transfers,” Vigna said. Ferrari expects to release firmer order numbers in July, according to Reuters. Reuters
Ferrari’s Luce is more than just another car. The new model is key to testing if Ferrari can sell an EV without hurting the things that matter most to its brand: sound, exclusivity and price. Reuters said deliveries start in the fourth quarter. Porsche and Lamborghini have slowed down their own EV plans as demand for luxury electric cars stays uneven.
Some analysts on the sell side didn’t see the news as badly as the market did. James Grzinic at Jefferies called the Luce a possible “recruitment tool” for customers who aren’t drawn to Ferrari’s heritage models. Jefferies kept its Buy rating and €350 price target. BofA Global Research said the stock’s drop looked “overdone” and also kept its Buy rating, according to MarketScreener. Investing.com
UBS analyst Zuzanna Pusz pointed to “stable underlying loyalty” but not much excitement, according to the Guardian. Berenberg’s Michael Filatov said the backlash “may not matter for the investment case,” since Ferrari plans to make under 1,000 Luce cars. The Guardian
Ferrari is sticking to its main financial targets for now. For the first quarter, the carmaker posted net revenue of €1.85 billion and EBITDA of €722 million. The company reaffirmed its outlook through 2026. Customer orders, according to Ferrari, now run out to late 2027.
The worry is the Luce debate could shift from loud backlash to a real sign of weaker demand. If initial orders are thin, or the design controversy hurts Ferrari’s brand instead of growing it, investors could start to doubt whether Ferrari can keep its high prices even as it spends on a pricey tech transition. That’s a bigger issue than just a rough first week for a new car.
Ferrari’s second-quarter earnings aren’t on the schedule until July 30, according to its corporate calendar. That leaves traders to watch flows, broker notes, and any new talk about Luce orders for direction this week.
