Ferrari Selloff Overblown? Hybrid Strength vs. EV Uncertainty

What happened

Ferrari's stock dropped 6% following the Luce EV unveiling, but a Motley Fool article argues the selloff is unwarranted, noting that roughly half of Ferrari's annual sales come from hybrids, not pure EVs, and the company's mix and personalization strategy continues to expand margins. The DeepValue report, however, maintains a WAIT rating, emphasizing that at 33.7x P/E, the stock prices in flawless execution, and Luce demand conversion remains unproven. While the article highlights Ferrari's resilient profit engine, the report's bear case shows that any margin disappointment from tariffs or weak EV orders could drive the stock to $290. The market appears to be overreacting to EV sentiment, but the core thesis hinges on hard order data for Luce, which is still absent. Until then, the stock is a show-me story where premium valuation leaves no room for error.

Implication

Long-term investors should wait for 2H26 disclosures on Luce orders and backlog extension; if conversion is strong, the stock could re-rate toward $425, but without it, valuation at 33.7x P/E is vulnerable to downside to $290.

Thesis delta

The bullish article argues that Ferrari's hybrid exposure and mix strength cushion the EV transition, but the DeepValue report's caution is unchanged: the stock's premium multiple requires proof of Luce demand. No thesis shift; the wait for tangible order data remains the key catalyst.