Ferrari NV's Stock Takes a Hit

Following the announcement by Exor NV, a major shareholder, of its intention to sell approximately 7 million shares, Ferrari NV's stock experienced a 7% drop on Thursday. This sale represents about 4% of Ferrari's total shares, amounting to a €3 billion transaction.

Investor Concerns Rise

Despite Exor remaining Ferrari's largest shareholder with 20% of the economic rights and 30% of the voting rights, the sale has sparked concerns among investors regarding potential changes in the company's ownership structure. Exor has committed to a 360-day lock-up period for its remaining shares, aiming to reassure the market.

Market Reaction

At 10:14 am CET, Ferrari's stock was down by 7.74%, trading at €445.70 per share. This significant drop reflects the market's reaction to the news of the large-scale sale by one of Ferrari's key stakeholders.