Ferrari Shares Dive 12%, Marking Biggest Drop Since 2016 IPO
Ferrari shocked investors with a sharp 12% drop in its share price on a single day. This event, the biggest decline since its 2016 IPO, erased significant value from the luxury automaker’s $78.68 billion market cap. The plunge followed Ferrari’s announcement of its eighth tranche in a multi-year share buyback program, set to repurchase up…