Ferrari’s highly anticipated first full-electric supercar reveal came with a major stock market surprise. Despite an elaborate launch event, RACE shares fell nearly 16%—their sharpest drop since the IPO. The main reason wasn’t the car itself, which looks to match the brand’s performance heritage with 1,000 horsepower and over 300 miles of range. Instead, investors were spooked by Ferrari’s long-term financial guidance, which projected 2030 sales below Wall Street estimates. While competitors delay or pull back on their own luxury EVs, Ferrari is betting on electrification and plans to invest €4.7B by 2030. The future of its brand hinges on whether the EV launch connects with its loyal base. Investors might see this drop as a brief buying opportunity considering the company’s margins and iconic status.