Ferrari (NYSE:RACE) Looking Ahead: Too Early to Think About Lewis Hamilton ‘wearing Red’

Ferrari (NYSE:RACE) Looking Ahead: Too Early to Think About Lewis Hamilton ‘wearing Red’

$RACE

Ferrari (NYSE:RACE) team Boss Mattia Binotto says that Ferrari needs 2 experienced drivers for Y 2021.

One is in the fold, the other might be on another team in Y 2020.

In December, the team announced that Charles Leclerc’s current contract has been extended for 2 more years, taking his deal to the end of Y 2024.

La Gazzetta dello Sport
 claims the deal 3X’d Mr. Leclerc’s salary. Mr. Leclerc, 22 anni, won 2X in Y 2019 and finished 4th in the driver standings.

The year Y 2021 is significant for Ferrari, as Sebastian Vettel’s deal runs out following the Y 2020 campaign.

A potential replacement is 6X champion and current MercedesAMG driver Lewis Hamilton, even though former F1 CEO Bernie Ecclestone told Blick newspaper that the reigning champ would be “crazy” to leave MercedesAMG.

It is rarely a good move to leave a winning team,” Ecclestone said. “And Lewis would not have enough time to build a new team alongside Leclerc.”

Ferrari CEO Louis Camilleri says The Hamilton Rumor is overblown, even though he admits the British driver met with Chairman John Elkann.

“The 2 met at an event as they have mutual friends, but it’s far too early to talk about drivers for 2021,” CEO Camilleri said. “Our situation is well known. We have a driver with a long-term contract and a 2nd driver whose contract expires at the end of 2020.”

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 Bullish, overhead resistance is 167.22, and Key support at 164.10, 3 of our Key indicators are Neutral to Bullish, and the stock has established strong long term support ahead of this coming breakout North.

Ferrari finished at 165.85, -0.88 Monday 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.

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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