why Ferrari stock will drop 2023?

ferrari-stock

ferrari stock price
Ferrari

Ferrari stock price

Ferrari’s company makes a luxury car, so buying this car is not possible for everyone. The company’s brand is synonymous with racing as Ferrari is a racing car and it also has its own Formula 1 racing team.

Ferrari, being a luxury brand tasked with competing with the big carmakers, shouldn’t be in demand the roof. For example ending quarter period sep.30, Ferrari company shipped 3,188 units and at the same time the Tesla company shipped 343,000 vehicles.

 

ferrari stock
Ferrari

And with hundreds of Ferrari vehicles going for tens of thousands of dollars, the company caters to more affluent customers, who may be less affected by currency and industry downturns. In the last quarter, the company’s net revenue was 1.2 billion euros, an increase of 19% year-on-year. Net profit of 228 million euros also increased by 10%.

The company’s shares trade at 40 times earnings, which isn’t cheap. But that’s in line with the stock’s five-year average because, like its cars, Ferrari’s stock normally commands a premium.

For its stability and efficiency amid tough times in the industry next year, Ferrari may be an underrated stock to invest in, and should pay a premium for it.

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