Ferrari heads into the final trading day of June with a rare combination: a 7.5% weekly gain while virtually every close peer finished in the red.
That divergence is the story. Porsche fell 6.3% on the week. Volkswagen and Porsche Automobil Holding each dropped over 10%. Renault shed 5.8%. Ferrari closed at €324.35 — up nearly 10% over the past month — and the gap to its automotive peers has rarely been this wide in a single week. The stock's correlation to the group is real but, right now, the relationship is running in reverse.
The lending market offers no meaningful tension to balance the bullish price action. Availability is extremely loose — over 660% of current short interest is available to borrow, meaning lenders hold more than six times the shares currently out on loan. That is well above even the 52-week tightest reading of around 433%. Cost to borrow has fallen roughly 42% over the past month, now running at less than 0.85%, and the ORTEX short score of 37 sits in an unremarkable middle range, showing no sign of either a squeeze setup or a fresh wave of bearish conviction. The borrow market is simply not a story here.
The Street's fundamental framing supports the price move. Analysts carry a mean price target of €371, implying around 14% further upside from current levels. Ferrari's trailing P/E sits near 30.7x, with EV/EBITDA at 18.1x — both multiples have drifted modestly higher over the past week and month, reflecting the price appreciation rather than any compression. A recent internal note on the stock flagged Q2 revenue of €1.4 billion, beating consensus by 8%, with the company raising full-year guidance on margin expansion. That combination of pricing power, limited supply, and order-book visibility is the bull case in a sentence — and it is notably more durable than the demand story most of the European auto sector is trying to tell right now.
Insider activity adds a quieter supporting note. Piero Lardi Ferrari — the Non-Executive Vice Chairman and son of the founder — bought 6,900 shares in late May at around €287, a transaction worth roughly $2.3 million. The 90-day net across all insiders is positive at just over 21,900 shares. More recent activity in June was limited to small executive sells by chief-level officers, both at around €307, consistent with routine share plan disposals rather than any directional signal. The founding family side of the ledger was a buyer into weakness; that is worth noting.
Q3 earnings are scheduled for July 30. The prior two results were sharply asymmetric: February's print produced a 14.6% single-day gain and a 13% five-day follow-through, while the May release gave back 1.7% on the day and 3.8% over the week. Whether the July print aligns with the February template or the May template is the question the market will be positioning around over the next four weeks.
See the live data behind this article on ORTEX.
Open RACE on ORTEX →ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data. Content is informational only and does not constitute investment advice.
