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· Posted on
February 21, 2024

Ferrari pulls a high-speed hijack as it poaches Lewis Hamilton from Mercedes...and talk about gaining pole position!

After driving with Mercedes for the past 11 years, Hamilton has announced he will be joining its arch-rival Ferrari in 2025

What's the key learning?

  • This news sent the share price of Ferrari skyrocketing by 12% to a 52-week high, and it came on the same day that Ferrari also announced that their sales jumped by 11% year on year.
  • Elite athletes can influence business outcomes just as much as their sport... if not more.
  • Ferrari will reap the benefits of Lewis Hamilton's driving skills and also his influence and global fan base.

👉 Background: Lewis Hamilton is the seven-time F1 champion, who has won a record 103 F1 races.

👉 What happened: After driving with Mercedes for the past 11 years, Hamilton has announced he will be joining its arch-rival Ferrari in 2025. This news sent the share price of Ferrari skyrocketing by 12% to a 52-week high.

👉 What else: This news came on the same day that Ferrari also announced their fourth-quarter earnings, where sales jumped by 11% year on year. And these two pieces of good news saw its market capitalisation increase by $10 billion USD.

What's the key learning?

💡Elite athletes can influence business outcomes just as much as their sport... if not more.

💡Lewis Hamilton isn't just a great racer, he's also become a major public figure. His profile and influence reached a whole new level after the Netflix documentary Drive to Survive, which has been seen by over 6.8 million viewers.

💡So now, Ferrari will reap the benefits of Lewis Hamilton's driving skills, but also his influence and global fan base. This will impact their merch sales, broadcasting deals, sponsorship deals car sales. So it's no surprise investors were pretty excited about this one.

‍

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