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Investors race to Ferrari after Lewis Hamilton bombshell move from Mercedes

by Amy Johnson LLB Finance Reporter
9th Feb 24 1:49 pm

Analysis of Google search data reveals that online searches for Ferrari stock overtook Mercedes for the first time since 2015 when it listed on the New York Stock Exchange.

The research by online casino Bombastic reveals that online interest in Ferrari stock, Googled on average 15,000 times a month, soared to over 28 times the average volume compared to the last 90 days as the Italian team announced the British driver’s move from their rivals, whom Hamilton had been driving with for 11 years.

Shortly after, searches for ‘Ferrari stock’ exploded over 2,700% worldwide on Feb 1st. At the same time, searches for ‘Mercedes stock’ saw a smaller 351% uplift in searches.

Google Trends data suggests the news could have brought interest in the Italian carmaker to all-time highs, over seven times the levels seen when Ferrari listed on the New York Stock Exchange in October 2015.

In 24 hours, Ferrari (BIT: RACE) surged 12.58% from USD 345.92 on Jan 31 to USD 389.45 on Feb 1. Hamilton commented on the announcements: “The time has come for me to start a new chapter in my life, and I will be joining Scuderia Ferrari in 2025. I feel incredibly fortunate after achieving things with Mercedes that I could only have dreamed of as a kid, that I now have the chance to fulfill another childhood dream, driving in Ferrari red.”

Hamilton previously insisted that he will not leave Mercedes until he retires from F1 driving.

A spokesperson from Bombastic commented on the findings, “Lewis Hamilton’s move to Ferrari is one of the biggest announcements in the sport’s history, making headlines worldwide as he makes the unexpected transfer to Ferrari.

“The deal will likely have a ripple effect on the wider sport, particularly with other drivers tied to both teams.

“The findings offer a fascinating insight into the impact of the sport on companies’ stock prices and the influence that Hamilton has on F1. It will be interesting to see how share prices may change when Hamilton gets behind the wheel of a Ferrari.”

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