F1: Ferrari (NYSE:RACE) Wants Sebastian Vettel for 3 More Years

F1: Ferrari (NYSE:RACE) Wants Sebastian Vettel for 3 More Years

F1: Ferrari (NYSE:RACE) Wants Sebastian Vettel for 3 More Years

$RACE

Ferrari (NYSE:RACE) shares finished on the highs Friday, at 100.02

Reports revealed Friday that Ferrari wants 4X F1 champion Sebastian Vettel to sign a new 3-year contract.

With Mr. Vettel’s current deal up at the end of this season, he has been linked with a potential move to Mercedes, perhaps for Y 2019, once Lewis Hamilton’s current contract expires.

Mr. Vettel recently invited Mercedes chief Toto Wolff to his 30th anni party in Switzerland, with Red Bull chief Christian Horner saying, “I would think he’s got Toto in his ear saying, ‘Extend for a year (at Ferrari).’ And then he has probably got Ferrari saying, ‘It’s three years or nothing.'”

France’s Auto Hebdo is reporting that Mr. Vettel has been offered a new 3-year Ferrari contract, valued at a total of $138.5-M

The report says that Mr. Vettel would insist that, if he does stay at Ferrari, his friend and current teammate Kimi Raikkonen also be retained.

Auto Hebdo said Ferrari President Sergio Marchionne has agreed to a $5.7-M extension for Mr. Raikkonen, Mr. Raikkonen has yet to accept or reject it.

“I think the situation in the drivers’ market depends on Sebastian Vettel,” said Mr. Horner. “But what is clear is that there will be no change at Red Bull Racing.”

Meantime, of the Stock front

Ferrari shares finished on the highs Friday, at 100.02, much higher than its 50-Day MA, and it 200 Day-MA at 87.81 and 72.00 respectively.

Ferrari together with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars.

The company offers 7 models, including 4 sports cars comprising 488 GTB, 488 Spider, F12berlinetta, and special series F12 Tour de France; and 3 GT cars that include California T, FF, and GTC4Lusso.

It also produces LaFerrari, a Limited Edition Supercar; Fuoriserie, a very Limited Edition series, and 1-off cars, non-registered racing cars and parts, as well as offers repair, maintenance, and restoration services for its cars to it clienti.

In addition, the company licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods; and Ferrari World, a theme park in Abu Dhabi.

As of 31 December 2015, it had a network of 25 franchised stores and 12 owned Ferrari stores, as well as store.ferrari.com Website.

The company sells its products through a network of 176 independent dealers operating 198 points of sale across 60 markets worldwide.

Further, it provides direct or indirect finance, and leasing services for the purchase of cars to retail clients and dealers

Ferrari participates in F1 racing activities through Scuderia Ferrari, and manages race tracks, as well as holds real estate properties.

The company was founded in Y 1947 and is headquartered in Maranello, Italy.

Symbol Last Trade Date Change Open High Low Volume
NYSE:RACE 100.02 21 July 2017 0.03 99.29 100.2 98.21 631,944
HeffX-LTN Analysis for RACE: Overall Short Intermediate Long
Bullish (0.40) Bullish (0.27) Very Bullish (0.50) Bullish (0.42)

 

Have a terrific weekend.

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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