Ferrari (RACE) stock is sinking in Tuesday’s intraday session following weaker-than-expected third quarter sales figures. The luxury automaker points to slowing demand in the Chinese market as a factor weighing on results.
Additionally, the company reports a 29% year-over-year decline in shipments to mainland China, Hong Kong, and Taiwan during the third quarter.
Wealth anchors Seana Smith and Brad Smith break down the details behind the disappointing regional performance.
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This post was written by Angel Smith
