F1: Ferrari (NYSE:RACE) in 2020

F1: Ferrari (NYSE:RACE) in 2020

$RACE

The Key Points

  • Ferrari CEO Louis Camilleri declares Key team personnel running the sport would present a conflict of interest
  • F1 CEO Chase Carey is stepping down as after Y 2020
  • MercedesAMG’s Lewis Hamilton is rumored to be considering a move to Ferrari in Y 2021

Ferrari team Boss, Louis Camilleri, claims Key team personnel running the sport would present a conflict of interest.

The current F1 Boss, Chase Carey, is rumored to be stepping down from his position following the Y 2020 season.

The previous rumors are that MercedesAMG’s team Boss, Toto Wolff, would succeed him as the new CEO of Formula One Group.

It brought up keen opposition from the Maranello Outfit Ferrari, headed by CEO Camilleri on this matter. He stated anyone who had been a significant player in a particular team in the previous years would create conflicts of interest if they were to take on big responsibilities at F1. 

He also said he thinks it would not be a good thing concerning the person that ultimately runs Formula One.

Chase Carey succeeded Bernie Ecclestone as the CEO when Liberty Media gained ownership of the championship’s commercial rights.

During his reign, F1 has added new venues, including the Vietnam Grand Prix, while bringing back the Dutch Grand Prix for Y 2020.

For a person that does not have any F1 background, CEO Camilleri thinks Mr. Carey has done well thus far.

CEO Camilleri said of Mr. Carey that he was oddly suited for the role because he came from a world of entertainment and had no background in motorsports.

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 Very Bullish, overhead resistance is NIL, and Key support at 167.11, 3 of our Key indicators are Very Bullish, and the stock has established strong long term support ahead of this coming breakout North.

Ferrari finished at 168.15, +2.61Thursday in NY.

Ferrari will continue to create value in the long term. Ferrari is a quality 1st long term luxury products investment, and I see it at 200+/share in that frame.

Ferrari will continue to create value in the long term. Ferrari is a quality 1st long term luxury products investment, and I see it at 200+/share in that frame.

Have a terrific New Year Holiday week.

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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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