Iconic Italian marque Ferrari’s shares have hit an all-time excessive, simply hours after the model’s Formulation One group introduced the landmark signing of seven-time world champion Lewis Hamilton.
On the shut of the New York Inventory Alternate in a single day, Ferrari shares (abbreviated as RACE) reached US$389.45 (A$592.51) – a 12.5 per cent enhance on the day prior.
That’s six per cent increased than the earlier peak of US$367.44 (A$599.02) in November 2023. Ferrari first went public in 2015.
The file share worth coincided with two bulletins – Ferrari’s fourth quarter monetary outcomes, and the signing of Lewis Hamilton, essentially the most profitable Formulation One driver in historical past, to the Scuderia Ferrari F1 group.
Hamilton – who drives for Mercedes-AMG and received six of his seven titles with the group – had lengthy been linked to a Ferrari drive, although in a single day it was confirmed the 103-time race winner would be a part of Ferrari in 2025.
Whereas Ferrari is essentially the most recognisable and widespread group on the Formulation One grid, it hasn’t received the coveted driver’s championship since 2007 with Kimi Raikkonen – regardless of the likes of Fernando Alonso and Sebastian Vettel successful quite a few races throughout their tenures with the group.
In its 2023 monetary round-up, Ferrari introduced it had posted file income of €5.97 billion (A$9.87bn) – a 17 per cent enhance on 2022 – whereas declaring it’ll surpass final 12 months’s figures all through 2024.
All through 2023, Ferrari delivered 13,663 automobiles to clients globally, beating its 2022 file of 13,221 deliveries, thanks partially to the brand new Purosangue SUV.
Ferrari offered 215 cars to Australian customers in 2023, dropping out to Lamborghini for the primary time in native recorded historical past.