On June 26, Ferrari fell 4.71% in after-hours trading to $368.34/share, with turnover of $355,900, erasing a 3.02% intraday gain driven earlier by a Jefferies target price upgrade and the Luce China launch.

The after-hours decline was triggered by Ferrari's chief product development officer Gianmaria Fulgenzi telling media that the Luce EV \"must be digested before it can be comprehended.\" The cautious wording appeared to deepen investor skepticism about market acceptance of the $626,000 four-door electric vehicle, which had already drawn criticism over its design since its unveiling last month.

The Luce has faced persistent headwinds since launch: its debut triggered an approximately 8% single-day stock plunge, followed by reports that Ferrari was pressuring clients to purchase the EV to secure access to limited-edition models. Ferrari's marketing chief was also replaced weeks after the launch. While management has emphasized strong customer interest and denied pressure tactics, and both Morgan Stanley and Jefferies have issued bullish calls in June, the market remains divided on whether the vehicle can genuinely drive incremental demand at its premium price point.

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