Ferrari N.V.
Thesis
Wyden owns options in Ferrari and anticipates that EBIT margins could rise from the high teens to around 40% due to high incremental gross margins. He believes that Ferrari can significantly improve its gross margins, which would positively impact EBIT.
Did it work?
inconclusive
confidence: low
The pitch is a long Ferrari call based on a specific margin thesis (EBIT margins rising from high teens to ~40% via incremental gross margin gains), but no price performance and no margin data are provided, and the time elapsed is unknown. Without evidence that the margin expansion occurred or that the stock re-rated, there is nothing to confirm or invalidate the thesis. The verdict must therefore remain open.