On June 22, Ferrari declined 3.18% in after-hours trading, trading at 350.77 USD/share, with turnover of 354,600 USD. The decline represents a continuation of profit-taking pressure following Morgan Stanley's June 15 target price upgrade.

On June 15, Morgan Stanley raised Ferrari's target price from $388 to $438 and upgraded the stock to Overweight, triggering a single-day surge of over 5%. However, short-term profit-taking quickly emerged, with the stock already retreating over 3% on June 18. The current decline extends that correction pattern. Morgan Stanley argued that recent selling had overstated temporary concerns as permanent brand damage, highlighting Ferrari's ultra-high-net-worth client base and global wealth creation as long-term tailwinds. Nevertheless, market participants remain divided over the pricing rationality of the all-electric Luce model at 550,000 euros and Ferrari's three consecutive years of declining sales in China.

Within the Automobile Manufacturers sector, the overall tone remains weak. Among individual stocks, Tesla down 1.32%, General Motors down 0.34%, Ford flat at 0%, Rivian Automotive down 0.67%, NIO down 1.0%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)