Ferrari RACE drops 5% at open on first EV unveil.

Ferrari shares fell 5% at the open after the Italian automaker unveiled its first fully electric vehicle, as investors reacted coolly to the brand's long-anticipated entry into the EV segment. The ticker RACE, listed on the New York Stock Exchange, saw immediate selling pressure in early trading.

The market reaction reflects a familiar tension for legacy luxury automakers making the EV pivot: investors who priced Ferrari as a high-margin, combustion-engine exclusivity play are reassessing what electrification means for the brand's pricing power and identity. Whether the drop is a structural re-rating or a one-day overreaction will depend heavily on the order book and margin guidance Ferrari provides in the coming weeks.