Source: REUTERS/ANDREW BOYERS
[Saba Sports News] Formula 1 received explosive
news as February began: legendary driver Lewis Hamilton will be transferring
from Mercedes to Ferrari in 2025. Although Ferrari has not disclosed the
contract details, this positive development has caused Ferrari’s stock price to
skyrocket, reaching a record high. Yesterday, Ferrari’s share price, listed on
the New York Stock Exchange, surged by over 12%, surpassing the $390 mark and
pushing its market value beyond $70 billion, setting a new record. This places
Ferrari ahead of BMW, Stellantis, and Volkswagen, and closing in on
Mercedes-Benz’s share price. The financial statement released before the market
opened revealed that Ferrari’s revenue and earnings per share in the fourth
quarter of 2023 exceeded market expectations. The company’s financial report
expressed confidence in its performance for 2024. However, some media outlets
believe that these figures alone are not enough to drive Ferrari’s stock price
to such heights. It is evident that Hamilton’s arrival has played a significant
role in this situation. Some fans have referred to this transfer as one of the
most shocking transactions in sports history. In football terms, it would be
akin to Josep Guardiola immediately coaching Manchester United after leaving Manchester
City.