Ferrari Faces Market Turbulence After Major Shareholder Sells €3 Billion Stake

In a significant market move, Ferrari NV's stock experienced a sharp decline of 7% this Thursday. This downturn came in the wake of Exor NV, a principal stakeholder in Ferrari, revealing plans to offload around 7 million shares, accounting for 4% of Ferrari's total equity.

The transaction, valued at an impressive €3 billion, is set to be finalized by March 3, 2025. Despite Exor's continued dominance as Ferrari's largest shareholder, retaining 20% of the economic rights and 30% of the voting rights, the sale has sparked investor anxiety over possible alterations to Ferrari's ownership framework. To mitigate concerns, Exor has pledged a 360-day lock-up period for its remaining shares.

By 10:14 am CET, Ferrari's stock had plummeted by 7.74%, trading at €445.70 per share.