Ferrari (RACE) shares dropped 6.27% in Milan trading on Tuesday, falling to €290.55 and wiping out roughly £3 billion in market cap a day after Maranello unveiled the Luce, its first all-electric car . The reaction online was overwhelmingly negative — the design got compared to a Honda Accord, an Apple Store minivan, and a luxury toaster. Investors clearly took the temperature of the internet and ran. But we’ve seen this exact movie before — when Ford put the Mustang badge on an electric SUV. more…
Source: Electrek — read the full report at the original publisher.