Ferrari (NYSE:RACE), the world’s best-known racing organization, is solidifying its grip on esports.
Tuesday, Ferrari unveiled the “Ferrari Hublot Esports Series“: a tournament that is open to all gamers who see themselves behind the wheel of a racing car in their own home.
This brand-new GT esports championship will use Assetto Corsa’s software platform to deliver a range of competitions in which drivers will all race in a Ferrari 488 Challenge Evo, exclusively made available to everyone taking part in the game.
In a live Zoom presentation held Tuesday at 4:00p CET (10am EDT), the Maranello Outfit, alongside Ferrari F1 driver and self-confessed esports fan Charles Leclerc , revealed that it was looking for fresh talent to join its debut competition.
While professionals will also be invited to the series, Ferrari expects the competition from amateurs to be fierce, with battles going into “hundredths of a second.”
Ferrari will open registration to all racers on 7 August. From here, a qualifying round will take place in September to find the 24 best amateur drivers racers to take part in the Ferrari Hublot Esports AM Series. Alongside this, 24 established Esports drivers will compete in their own PRO Series, battling it out on the same circuits as their AM counterparts.
The 12 fastest drivers from both the AM and PRO Series will come together on a final grid of 24 and fight across 4 races in October. The elite will go forward to the finals in November, when the ultimate winner will be chosen after a 3-race series.
The overall champion will be offered the “experience of their life”: the opportunity to join the Ferrari Esports FDA Team for the 2021 season.
While this role is chiefly as a reserve driver, they will get the opportunity to attend events, race across a variety of esports tournaments and if they truly good, they could find themselves racing alongside current F1 esports champion David Tonizza at the highest level.
Our overall technical outlook is Bullish in here, as all Key indicators are Very Bullish.
Ferrari finished at 178.89, -1.04 Tuesday in NY, just shy of its intraday all time highs at 183.50 marked on 22 July 2020.
The Maranello Outfit’s shares were raised to Buy from Hold at HSBC.
Ferrari will continue to create value in the long term. Ferrari is a quality 1st long term luxury products investment, and I have called it at it at 200+/share long term, adjusting it to 200/share short term (after the virus) and siding with BAML to 230 long term for now. The stock is now considered defensive in the sector.
Have a healthy day, Keep the Faith!