F1: Ferrari’s (NYSE:RACE) CEO Marchionne Bullish Vettel

F1: Ferrari’s (NYSE:RACE) CEO Marchionne Bullish Vettel

F1: Ferrari’s (NYSE:RACE) CEO Marchionne Bullish Vettel

$RACE

Time is running down for Ferrari (NYSE:RACE) and Sebastian Vettel, but CEO Sergio Marchionne says Lewis Hamilton can be caught.

Sebastian Vettel is not out of the F1 driver’s chanpionship race despite Ferrari’s mechanical issues, and The Scuderia’s car is on par with MercedesAMG’s, says company CEO Sergio Marchionne.

Recently, Ferrari has had miserable runs, with engine trouble for Mr. Vettel in Malaysia and Japan following a 2X DNF for the he and team-mate Kimi Raikkonen in Singapore after their Turn 1 shunt with Red Bull Racing’s infant terrible, Max Verstappen.

Mr. Vettel’s early retirement at Japanese Grand Prix leaves him trailing Lewis Hamilton by 59 points with 4 events remaining and the MercedesAMG driver can clinch his 4th world title if results go his way in the United States this coming weekend at Austin, Texas.

Mr. Marchionne remains in Bullish mood over Ferrari’s chances of a 1st drivers’ championship since Y 2007.

He said, “The season is not lost. There is still time to get it done. With all the modesty we have in Ferrari, the car has made tremendous progress.

“I do not speak about bad luck because I do not believe it. Things are happening to everyone, especially for us in the race.

“The important thing is to not lose the confidence that has brought us here so far.

“Without being arrogant, I think Ferrari is at the same level, if not superior to MercedesAMF today. Red Bull has also made progress, but I do not think they are affecting Ferrari’s position in the race.”

Symbol Last Trade Date Change Open High Low Volume
NYSE:RACE 114.96 13 October 2017 -1.13 115.97 116.44 115.57 305,300
HeffX-LTN Analysis for RACE: Overall Short Intermediate Long
Bullish (0.26) Bullish (0.33) Neutral (0.20) Bullish (0.25)

The US Grand Prix is this coming weekend, 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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