EXOR Shares Drop 7.11% at Midday This Thursday
The Dutch holding company shows a decline of 7.11% this Thursday morning, with its share price standing at 80.30 euros compared to 86.45 euros the previous day. This movement amplifies an already initiated downward trend, with a cumulative loss of 4.06% over the last seven days. On a broader scale, the trend remains unfavorable: the stock has lost 8.96% over three months and 16.7% over a year, in a context where the CAC 40 has gained 7.38% over twelve months and is up 0.2% this Thursday. Trading volumes remain modest, with only 0.11% of the capital traded in the morning, suggesting limited activity despite the extent of the correction.
EXOR's main holding, Ferrari, unveiled this Thursday its first fully electric vehicle, the Elettrica, while revising downward its electrification ambitions. The Italian manufacturer now aims for 20% electric vehicles in its range by 2030, a strategic adjustment that seems to impact the valuation of the holding. This situation comes as EXOR sold about 4% of its stake in Ferrari last February to fund a buyback program of its own shares worth one billion euros. The holding continues to suffer a significant discount, with a market capitalization of 17 billion euros representing about 50% of its estimated net asset value of 36 billion euros.
From a technical perspective, the stock has fallen below its support threshold of 81.80 euros, a breach that strengthens selling pressure and could pave the way for further declines. The price is also moving below its 50-day and 200-day moving averages, respectively located at 85.26 euros and 86.09 euros, confirming a bearish orientation in the short and medium term. However, the Relative Strength Index remains at 65, a level that indicates some resilience of the stock without signaling an overbought situation. Moreover, the MACD shows a particular configuration with its main line at 0.30 above the signal line positioned at -0.24, suggesting a technical momentum that contrasts with the day's movement. The Bollinger Bands, ranging between 80.85 euros and 87.30 euros, frame recent fluctuations, with the current price touching the lower bound of this range. With a monthly volatility contained at 5.24% and a very low beta of 0.07, EXOR shows limited sensitivity to market movements.
