Tyler Crowe

On the one hand, Ferrari said it's cutting its EV lineup because it's a pretty clear sign that its projected lineup out to 2030 wasn't really reverberating with its clientele.

It's going back to that traditional conventional engine and that distinct Ferrari sound you hear.

That's what the ultra-wealthy want to pony up for.

when it's this type of business.

Getting back to that makes sense.

But it was pretty clear that they might have missed with this EV push, with it still being an uncertain product on the market.

But at the same time, if you look at a lot of other luxury brands out there,

LVMH, Louis Vuitton, Moet Hennessy, Hermès.

I call Restoration Hardware, it's not quite that level of luxury, but similar sentiment.

None of them are really doing too hot over the past couple of years.

Part of me is wondering, is this really a Ferrari story or people pulling back on luxury discretionary goods?

I once saw a used Ferrari for $19,000 in a used car lot, but I'm pretty sure it had a Honda Civic engine in it.

I don't know if that would still count as a Ferrari.

Thanks for that, guys!

Coming up next, we're talking about meme stocks.

Back in 2021, Roundhill Investments really captured the investing zeitgeist with a meme stock ETF.

SPACs were booming.

The Wall Street Bets Reddit page was sending stocks up double digits in a matter of minutes.

There was a sense of euphoria around how the pandemic was going to turn all of our lives digital.

Everything was different.