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Ferrari Is Stuck in Neutral



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Ferrari likes to take its time to get things right. That is a strength in creating cars that justify astronomical prices, but it also means investors can’t expect the stock to suddenly pick up speed.
Like the luxury industry it sometimes seems part of, the Italian sports car maker is accelerating smoothly out of the pandemic. Second-quarter operating profits reported Monday were about 15% higher than in the same period of 2019, before Covid-19 struck. It sold a similar number of vehicles, but those cars it did sell—such as the SF90 Stradale, a plug-in hybrid with a base price north …

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