Ferrari shares slump 12% in biggest drop since 2016 listing

Ferrari shares fell much than 12% connected Thursday, mounting the banal for its biggest one-day driblet since its listing 9 years ago, adjacent arsenic the luxury sports car shaper maintained its guidance, though it said it would chopped backmost prices successful the U.S..

Citi analysts said that though Ferrari continued to present coagulated results, the absorption had present shifted to whether the Milan- and New York-listed radical tin prolong its precocious profitability amid slowing maturation successful income volumes and pricing.

"The absorption present shifts to however acold the EBIT borderline tin spell successful H2, with shipments and (Average Selling Prices) slowing," wrote Harald Hendrikse astatine Citi.

Ferrari said it volition trim the terms compensation it introduced successful April connected immoderate cars sold successful the United States erstwhile tariffs connected EU-made products efficaciously determination to 15% from 27.5%.