F1: Ferrari (NYSE:RACE) Appeals Vettel Penalty at Canada Grand Prix

F1: Ferrari (NYSE:RACE) Appeals Vettel Penalty at Canada Grand Prix

$RACE

Ferrari (NYSE:RACE) has appealed the decision to punish Sebastian Vettel with a 5 sec penalty at the Canadian Grand Prix Sunday, which resulted in the him missing out on his 1st win of the season, though he did take the Chequered flag.

Mr. Vettel was deemed to have rejoined the circuit in an unsafe manner after making a mistake during Lap 48, pushing rival Lewis Hamilton off the track in the process.

Despite holding off the MercedesAMG driver for the rest of the race and crossing the finish line 1st, the time penalty ensured Mr. Vettel finished 2nd.

“At the moment, we, as a team, are naturally disappointed, but most of all our thoughts are with Sebastian and the spectators,” said Ferrari Team Principal Mattia Binotto.

“As for Seb, I do not think he could have done things differently, which is why we have decided to appeal the stewards’ decision.”

“I think we had a great race and the stewards’ decision is too harsh,” said Mr. Vettel, after the race.

“In turn 3, I lost control of my car and I had to run long onto the grass, rejoining at turn 4 ahead of Lewis. I could not see where he was, as I was too busy trying to keep my car on track without crashing and I did not squeeze him on purpose.

“I think given the way things went this weekend and even though our rivals’ race pace was very strong, we deserved the win, and I get the impression that lots of the spectators here today at the circuit agree with me.”

With that Mr. Hamilton marked his 5th win of the season and maintained his team’s 100% record. He leads the drivers’ standings with 162 points, with Valtteri Bottas 2nd with 133 and Mr. Vettel 3rd with 100.

After the race, Mr. Hamilton defended the decision to punish his rival: “Ultimately the rules say when you go off you have to come back on in a safe manner and I was alongside and I had to back off to avoid a collision and I guess that’s why they made the decision.”

Ferrari is the Aristocrat of the automotive sector.

The 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 Bullish to Very Bullish, there no overhead resistance now, and support at 152.51, all of our Key indicators are Very Bullish in here. Ferrari finished at 153.84 +3.50 on the day in NY Monday.

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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