On June 22, Ferrari fell 3.84% in regular trading, trading at $350.01/share, with turnover of $28.25 million. 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 its rating from Equal-Weight to Overweight, arguing that recent selling had overly interpreted temporary concerns as permanent brand damage. The stock surged over 5% that day but has since given back gains, falling more than 3% on June 18 before extending losses in the current session.

Adding to downside pressure, market rumors emerged suggesting Ferrari may have pressured existing clients to place orders for its debut all-electric Luce model, priced at EUR 550,000. Although Ferrari's Chief Marketing Officer explicitly denied the claims, the speculation intensified concerns that the EV model may struggle with genuine demand. Broader auto sector weakness further weighed on shares, with Tesla down 0.42%, Rivian down 2.97%, and NIO down 1.16%.

(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.)