Ferrari shares trade under $400 after Luce EV reveal

Ferrari shares have been trading under $400 since November. The company's first fully electric vehicle, the Luce, was revealed on May 25 with a starting price of about $640,000. The Luce has 1,035 horsepower and a 0-to-62 mph time of 2.5 seconds. Ferrari's brand still stands for exclusivity, luxury, and incredible performance, which historically supported strong pricing power. The company's addressable market may expand with the Luce's four doors, five seats, and sizable trunk.