Yong Social Finance

  Ferrari's Stock Just Erased Its Luce Sell-Off. Investors May Have Spoken Too Soon. When Ferrari unveiled the Luce, its first fully electric vehicle, the market's reaction was immediate. And brutal. Shares of the Italian luxury automaker dropped sharply as investors questioned whether Ferrari had gone too far in its attempt to embrace the electric future. Critics argued that the Luce looked nothing like a traditional Ferrari, while longtime enthusiasts wondered whether a silent Ferrari could ever feel like a Ferrari. For a moment, it appeared that one of the world's most admired automotive brands had made a costly mistake. But the panic didn't last. Ferrari shares have now climbed back to roughly their pre-launch levels, recovering most of the losses that followed the debut of the Luce. The rebound suggests that investors are beginning to focus on something more important than first impressions: whether Ferrari can continue doing what it has always done best—sell...