Ferrari Stock Crashes After Plunging 4Q Profits And Tepid Forecasts

Ferrari stock plunged Tuesday after the super sports car maker unveiled a substantial drop in fourth-quarter net profit and a modest growth forecast for 2016. Resonating to the poor show, Ferrari’s shares got clobbered by as much as 14% on the New York Stock Exchange after the release of the results. Ferrari’s net profit dropped by about a third Ferrari earned a net profit of €55 million in the last three months of 2015, reflecting a drop of about a third when compared with the same quarter last year. The luxury car maker’s sales slid 1% to €744 million from €751…