F1: Ferrari (NYSE:RACE) and the Coronavirus

F1: Ferrari (NYSE:RACE) and the Coronavirus

$RACE

Ferrari (NYSE:RACE)says that F1 teams must be given assurances about the risks they may face at the Australian Grand Prix over coronavirus implications before staff start travelling to Melbourne.

On fears about staff not being allowed to travel, or risking quarantine on arrival, Ferrari team principal Mattia Binotto says F1 and the FIA must ensure there are no surprises for teams.

With the Italian team personnel and drivers having trouble getting to this weekend’s Bahrain F2 test because of fears over the virus, there is a danger that a similar scenario could await staff travelling to the F1 season opener in Australia.

Team Boss Binotto wants nothing left to chance, and says it will be too late to decide things once personnel are already on their way.

When asked about the potential for a repeat of the troubles that F2 has faced in Bahrain, Boss Binotto said: “Getting to testing has been difficult. Some of our engineers going there have remained home so instead of taking the risk to be there and eventually staying there for a few days or many days, they stayed home.

I think that what we will need is simply to have assurance before leaving. I don’t think we can discover when we are there what can be or what will be the situation.

So if there are any medical screenings, we need to know about them. You need to know exactly what’s about. We need to understand what are the consequences in case of any problem?

“Obviously we need to protect our employees. We have got collective and individual responsibility towards them. And it is important, really, to make sure that before leaving, the picture, whatever is the scenario, is known and clear.”

Team bosses met with F1 CEO Chase Carey Friday morning for an update on the situation regarding the 1st 3 races.

A Really Big Q for F1 to deal with could be that if 1 or 2 teams find that they cannot run in Australia because staff cannot get there, but all the others are fine, whether or not to go ahead with the race.

Boss Binotto said the implication of such a problem for Italian staff would stretch far beyond Ferrari and AlphaTauri.

I say it’s not only 2 teams because we are supplying assistance to Haas and the Alfa Sauber team,” he said. “So it will be 4 teams at least, plus the Pirelli situation which we need to understand.

So what will be the situation that if eventually 4 teams cannot run and if the race will take place or not? That is not my decision.

We wait, We see…

Ferrari is the Aristocrat of the automotive sector.

Enzo Ferrari’s iconic Italian Supercar manufacturer claimed the title according to the latest Brand Finance Global 500 2019 report launched at the World Economic Forum in Davos.

HeffX-LTN overall technical outlook for RACE is Neutral to Bullish, there is resistance 167.60 and Key support is at 154.44.

Ferrari finished at 157.75, +1.66 Friday in NY.

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 and siding with BAML to 230 long term for now

Have a terrific weekend

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