Ferrari Nv, Markets, Autos

Ferrari Nv, Markets

Goldman double downgrades Ferrari to sell on likely costly transition to the electric vehicle era

The luxury automaker tapped semiconductor industry veteran Bendetto Vigna as its new chief executive officer earlier this month.

6/14/2021 1:32:00 PM

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The luxury automaker tapped semiconductor industry veteran Bendetto Vigna as its new chief executive officer earlier this month.

The arrival of a new CEO and the transition to electric vehicles should leaveFerrari's stock stuck in park for the immediate future, according to Goldman Sachs.The luxury automaker tapped semiconductor industry veteran Benedetto Vigna as its new chief executive officer earlier this month. The move, along with a new plan for electric vehicles, have signaled to many on Wall Street that Ferrari is moving into a new tech-centric era.

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