Ferrari NV's Stock Takes a Hit

In a surprising turn of events, Ferrari NV's stock experienced a significant drop of 7% on Thursday. This downturn came on the heels of an announcement from Exor NV, one of Ferrari's major stakeholders, regarding the sale of approximately 7 million shares. This sale represents about 4% of Ferrari's total shares and is part of an "accelerated bookbuild offering."

Exor's Strategic Move

The transaction, valued at €3 billion, is set to be finalized on March 3, 2025. Despite this significant sale, Exor will remain Ferrari's largest shareholder, holding 20% of the economic rights and 30% of the voting rights. However, this move has sparked concerns among investors regarding potential shifts in Ferrari's ownership structure. In a bid to reassure stakeholders, Exor has committed to a 360-day lock-up period for its remaining shares.

Market Reaction

Following the announcement, Ferrari's stock price fell by 7.74% to €445.70 per share by 10:14 am CET. This reaction underscores the market's sensitivity to changes in major shareholders' stakes and the potential implications for the company's future direction.