Ferrari in 4th consecutive rise, nears four-month high

Ferrari's stock continues its upward trajectory, marking its fourth consecutive day of gains and approaching a four-month high. The luxury carmaker reported strong 2024 results, with net profit rising 21% to €1.53 billion. CEO Benedetto Vigna attributed the success to a focus on revenue quality over volume, citing a strong product mix and growing demand for personalization. Ferrari expects further robust growth in 2025, aiming to reach its 2026 profitability targets a year early. The company's shares rose 3.4% in Milan and over 3% in the U.S. following the announcement.

 

Source: CNBC, Ferrari press release