F1: Ferrari’s (NYSE:RACE) Season the “Strongest in the Past 10 Years”

F1: Ferrari’s (NYSE:RACE) Season the “Strongest in the Past 10 Years”

F1: Ferrari’s (NYSE:RACE) Season the “Strongest in the Past 10 Years” +

The Maranello Outfit is buying back its shares in the market.

$RACE

Ferrari’s (NYSE:RACE) engineering Chief Jock Clear believes the Team has had its “strongest season for 10 years” in F1 during Y 2018.

Although Ferrari emerged as a major threat to MercedesAMG in the fight for the F1 championship this year, late season errors derailed its campaign.

Ferrari was disappointed to have missed out on the title, but Mr. Clear says that 1 of the Key lessons learned this year is the need for the team to perform consistently throughout the whole season.

“It has been a fantastic battle and that’s why we do this sport,” he explained. “It is seasons like this that you just relish.

“Obviously when you are on the wrong end of it, it is frustrating. But specifically, we haven’t really looked back at what point, as you put it, things slipped away from us.

“The fact is, a season is season and the points we score in Abu Dhabi are just as important as the points we score in Australia, and to win a championship you need to put together a full season.

“We have not done as good a job in that respect as our direct competitors and we are aware of that.

“We look back over the season, we look at the strengths of what is probably the strongest Ferrari season for 10 years and we build on those strengths.

“I think the win in Austin for Kimi is a testament to the fact that the team does come back and does fight back and we did understand some of the issues we uncovered in the second third of the season.”

Mr. Clear believes Sebastian Vettel will come back a stronger driver in Y 2019 after the “unfinished business” of another title miss.

“The fact is drivers of his caliber relish the pressure,” said Mr. Clear. “The Top athletes pit themselves against the best and the pressure is the pressure. That’s part of the job.

“I think he has enjoyed the season. There have been highs and lows. He said recently that losing the championship in 2009 he found more frustrating.

“On the whole, he has come to this battle willing to take risks, willing to give it his all and we’re part of that. We’ve all done our part this year to the ups and downs.

“From Seb’s point of view it just gives him more strength to come back next year and say ‘this is unfinished business’.”

Ferrari Corporate is Buying back its stock in the market

Ferrari NV announced Monday that under the common share buyback program announced on 9 February 2018, the Company has purchased additional common shares.

Since the announcement of the buyback program dated 9 February 2018 till 16 November 2018, the total invested consideration has been Euro 71,477,574.87 ($ 83,886,038.11) for No. 730,635 common shares purchased resulting in No. 5,700,260 common shares held in treasury as of 16 November 2018.

As of the same date, the Company held 2.28% of the total issued share capital including the common shares and the special voting shares.

A comprehensive overview of the transactions carried out under the share buyback program is available on the corporate website (http://corporate.ferrari.com).

Symbol Last Trade Date Change Open High Low Volume
NYSE:RACE 109.42 19 November 2018 -1.32 110.5 110.54 108.64 198,123
HeffX-LTN Analysis for RACE: Overall Short Intermediate Long
Bearish (-0.45) Bearish (-0.28) Very Bearish (-0.58) Very Bearish (-0.50)

 

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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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