Recently, Ferrari took the wraps off its inaugural fully-electric model, the Luce, at a high-profile event in Rome. However, the unveiling was met with a wave of controversy and widespread mockery online. The backlash had an immediate and severe impact on Ferrari’s financial standing, with its stock price plummeting by 8.4% in European markets and 5.1% in the US market. This sharp decline resulted in a staggering loss of approximately $3 billion in market value on the very day of the car’s launch.
