F1: Ferrari’s (NYSE:RACE) New Racer Debuts in February

F1: Ferrari’s (NYSE:RACE) New Racer Debuts in February

F1: Ferrari’s (NYSE:RACE) New Racer Debuts in February

$RACE

Monday, Scuderia Ferrari (NYSE:RACE) announced the debut date of its newest Formula 1 race car.

During a factory media event on Monday, the Ferrari Racing announced that its newest world championship-seeking machine will be revealed at its Fiorano circuit on 24 February 2017.

FIA testing regulations allow teams to take part in 2-car tests of no more than 4 days between 1 February and 10 days before the start of the season.

At Fiorano the new car will be put through its paces 3 days ahead of the start of Winter testing in Barcelona, Spain, at the Circuit de Barcelona-Catalunya.

The car so far is unnamed, is know as Project Code 668.

As a constructor, Ferrari has a record 16 Constructor Championships, the last of which was won in Y 2008. Alberto Ascari, Juan Manuel Fangio, Mike Hawthorn, Phil Hill, John Surtees, Niki Lauda, Jody Scheckter, Michael Schumacher and Kimi Räikkönen have won a record 15 Driver Championships in Red.

Since Mr. Räikkönen’s 2007 championship, the team narrowly lost out on championships in Y’s 2008, 2010 and 2012.

Further on The Scuderia Monday also announced that Italian Antonio Giovinazzi, 22 anni, will be Ferrari’s 3rd F1 driver in Y 2017.

He will be back up F1 team drivers Sebastian Vettel and Kimi Raikkonen.

Mr. Giovinazzi, runner-up in the GP2 feeder series in Y 2016, will start work in the simulator in January and will do some track work during the year.

Ferrari President Sergio Marchionne said: “We took him because he is a great driver. I’m pleased also that he’s an Italian.”

Expect Mr. Giovinazzi to be on hand for  the debut of  the Project Code 688 car at Fiorano in February.

Symbol Last Trade Date Change Open High Low Volume
NYSE:RACE 58.67 19 December 2016 0.32 58.34 58.86 58.34 431,400
HeffX-LTN Analysis for RACE: Overall Short Intermediate Long
Bullish (0.28) Bullish (0.34) Bullish (0.33) Neutral (0.17)

Stay tuned…

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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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