Ferrari (NYSE:RACE) Workers Tested for Coronavirus Before Going Back to Work Monday

Ferrari (NYSE:RACE) Workers Tested for Coronavirus Before Going Back to Work  Monday


Ferrari (NYSE:RACE) normally high energy factory and HQ’s stood mostly deserted earlier this week, except for the line of Red Dressed Scuderia employees waiting to have their blood drawn and tested for coronavirus antibodies.

The iconic Supercar maker is to restart operations at its Maranello and Modena plants on 4 May, as Italy is set to start lifting its lockdowns.

The 2 plants are located in Italy’s northern Emilia-Romagna region have been closed since mid-March when Rome imposed curbs on people’s movements and froze manufacturing activities deemed as non-essential, to contain the spread of the coronavirus.

The plants will resume operations slowly, and return to full production on Friday, 8 May, Ferrari said.

Ferrari said that before resuming operations it organised training sessions for workers focused on precautionary measures they must take, as part of its “Back on Track” program, unveiled earlier this month and aimed at preparing for a safe working environment at the sites.

Ferrari is ‘On Track’ and Going Back to Work

Under the program, Ferrari staff, families and suppliers will 1st take blood tests and will then be given an app which will alert them if they have been in close contact with any of the people taking part in the scheme who had contracted COVID-19.

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 to Very Bullish, there is Key resistance 154.33, and support is at 148.83.

Our overall technical outlook is Nutral to Bullish in here

Ferrari finished Friday at 148.99, -6.63 in NY.

The Maranello Outfit’s shares were raised to Buy from Hold at HSBC.

Ferrari will continue to create value in the long term. Ferrari is a quality 1st long term luxury products investment, and I have called it at it at 200+/share long term, adjusting it to 200/share short term (after the virus) and siding with BAML to 230 long term for now.

Have a healthy weekend, Keep the Faith!

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