Speculating on the arrival of Lewis Hamilton, Ferrari’s stock market action soars by 8%
The day is very eventful at Ferrari. The Italian manufacturer saw its stock increase by 8% on the stock market. This rise is related to the crazy rumor of Lewis Hamilton joining the Scuderia.
As the 2024 season approaches, Ferrari’s daily life remains very busy. The Italian manufacturer’s stock has increased by over 8%. The reason: the rumor of Lewis Hamilton joining the Scuderia for the 2025 season. According to AutoSport, the departure of the British driver could be officially announced as early as tonight.
According to the English-speaking media, Toto Wolff and James Allison are said to have organized a staff meeting in the afternoon, considering the situation. Currently, none of the three parties (Mercedes, Ferrari, and Hamilton) have communicated about it.
However, this news is currently playing into the hands of Italian manufacturers with stocks that continue to rise since the opening of the New York Stock Exchange.
A value that has increased by 7 billion dollars.
During the closing of the New York Stock Exchange on Wednesday evening, Ferrari’s market capitalization was $346.78 (equivalent to €319.72). Shortly after the opening on Thursday, the stock price climbed to a peak of $384.00 (equivalent to €354.03).
This increase allows the Italian giant to have a market capitalization estimated at $69.12 billion (€63.73 billion) currently, compared to $62.4 billion (€57.53 billion) the day before.
The company has thus gained over 7 billion dollars since the start of this rumor. Over the past 12 months, the lowest stock price was $252.17, which is equivalent to €232.49.
Lewis Hamilton, who had extended his contract by two seasons last summer, would reportedly have an exit clause. Therefore, the 2025 season would be a mere option that the driver may choose not to exercise. As a result, he could potentially replace Carlos Sainz at the end of the 2024 campaign.
