#F1 #Imola #Ferrari #Leclerc #Saintz
“Max Verstappen won the Emilia Romagna Grand Prix at Imola Sunday, as Ferrari’s World Championship leader Charles Leclerc crashed but salvaged 6th. Heartbreaking!”–Paul Ebeling
Mr. Verstappen dominated a wet/dry race from Pole position to lead home a Red Bull 1-2 with teammate Sergio Perez.
Ferrari’s heartbreaking home race began when Carlos Sainz was taken out by McLaren’s Daniel Ricciardo at the 1st corner, and was compounded when Mr. Leclerc spun into the barrier while attempting to pressure Mr. Perez. He was forced to pit for a new nose and front wing, dropping to 9th but recovered to finish 6th.
On the stock buyback program
Ferrari N.V. (NYSE:RACE) informs that the Company has purchased, under the sixth tranche of the common share buyback program announced on March 3, 2022 (“Sixth Tranche”), additional common shares – reported in aggregate form, on a daily basis – on Euronext Milan (EXM) as follows:
Number of common shares purchased
Average price per share
Consideration excluding fees
(*) translated at the European Central Bank EUR/USD exchange reference rate as of the date of each purchase
Since the announcement of the Sixth Tranche of the buyback program dated March 3, 2022 till April 21, 2022, the total invested consideration has been:
- Euro 50,223,149.45 for No. 263,291 common shares purchased on the EXM
- USD 9,990,538.84 (Euro 9,133,362.89*) for No. 52,571 common shares purchased on the NYSE.
As of April 21, 2022, the Company held in treasury No. 10,744,067 common shares equal to 4.18% of the total issued share capital including the common shares and the special voting shares, net of shares assigned under the Company’s equity incentive plan.
Since January 1, 2019 until April 21, 2022, the Company has purchased a total of 5,624,349 own common shares on EXM and NYSE, excluding transactions for Sell to Cover, for a total consideration of Euro 862,777,078.89.
A comprehensive overview of the transactions carried out under the buyback program, as well as the details of the above transactions, are available on Ferrari’s corporate website under the Buyback Programs section (https://www.ferrari.com/en-EN/corporate/buyback-programs).
Ferrari is The Aristocrat of the automotive sector.
Ferrari is 1 of the most recognizable brands in the world, even becoming the world’s strongest luxury brand in Y 2021, according to Brand Finance. Its Brand Strength Index scored 93.9 pts out of 100 and has a brand strength of AAA+.
Our overall technical outlook is still Bullish, all Key indicators are Bullish long-term. Ferrari reported strong earnings for Q-3 on 3 November and did the same for Q-4 and F-Y 2020 as reported on 2 February.
Have a prosperous week, Keep the Faith!