Surprise? Ferrari’s Stock Price Surges 10% on News of Lewis Hamilton’s Impending Move
You are surprised? Ferrari shares rose 10% on news of Lewis Hamilton’s imminent transfer.
After it was announced that Lewis Hamilton would join the team in 2025, the company’s market capitalization rose by $7 billion on the NYSE overnight, or about $56 billion. Widely regarded as one of the greatest Formula 1 drivers of all time, Lewis Hamilton made headlines when he decided to rejoin his old team, which had won six of the seven World Drivers’ Championships. Moving house. 2025, the Ferrari Formula 1 racing team. The move, reported by Esquire last year, marks a significant change in the dynamics of the Formula 1 landscape and has sparked a lot of interest not only from racing fans but also from the financial community. market. Despite the move not happening until 2025, the announcement sent Ferrari’s share price up nearly 10%. The seven-time Formula 1 world champion will continue to race for Mercedes in the 2024 season. The decision to join one of the most iconic and legendary motorsport brands in the sport resulted in:
