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    01 February 2024

    Ferrari’s Market Value Soars by $7 Billion Following Hamilton F1 Shock

    Hamilton Set to Join Ferrari in Shock Move from Mercedes

    In a surprising turn of events, Lewis Hamilton is rumored to be on the verge of signing with Ferrari for the upcoming Formula One season. The news has sent shockwaves through the racing community and left fans speculating about what this means for both Hamilton and his former team, Mercedes.

    A potential official announcement regarding Hamilton’s departure and partnership with Charles Leclerc at Ferrari could come as early as Thursday evening. While neither team has confirmed the rumors, it is believed that staff members at Mercedes were informed during a recent meeting led by Toto Wolff and James Allison.

    The unexpected move has raised questions about who will replace Hamilton at Mercedes in the long term. Though possible candidates like Lando Norris and Leclerc are already committed elsewhere, Mercedes now faces an important decision for their future success.

    Impact on Stock Exchange

    The consequences of Hamilton’s decision can also be seen beyond just Formula One enthusiasts. As reports started circulating, Ferrari’s company value experienced a significant surge when trading opened on Wall Street today. With shares reaching an all-time high soon after opening, experts predict further increases throughout the day.

    Market Capitalization Soars:

    This unexpected turn of events has resulted in a staggering increase in Ferrari’s market capitalization. Since Wednesday, the Italian sports car manufacturer’s value has skyrocketed from $62.4 billion to an estimated $69.12 billion. This surge signifies unprecedented confidence and support for Ferrari’s pursuit of Hamilton.

    Contract Details

    Last year, Hamilton signed a long-term contract with Mercedes covering the 2024 and 2025 seasons; however, it appears that he may have activated an exit clause enabling him to join Ferrari as early as 2025. This move would see him replace Carlos Sainz, whose current contract concludes at the end of this year.

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