Ferrari (NYSE: #RACE) Sinks 4%+ on Tuesday After Positive Q1 2024 Results and Upbeat FY24 Guidance

Ferrari N.V. (NYSE: $RACE) is an Italian car company based in Maranello, Italy, that manufactures luxury sports cars. The company's cars are quite expensive, with a base price of $150,000 and a top price of up to $1.5 million per unit.

On Tuesday, 07 May 2024, the luxury sports car maker released its first quarter results for fiscal 2024 to a negative market reaction.

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