Ferrari’s Formula 1 project is drawing fresh scrutiny after Lewis Hamilton said the team is “not where they expected,” a blunt assessment that underscores how far the Scuderia remains from the front-running pace investors and fans had hoped for.
Ferrari shares slip as Hamilton criticizes F1 pace
The disappointment matters because Ferrari is more than a racing team: F1 success feeds brand cachet, sponsorship appeal and the premium halo that supports one of the auto industry’s strongest franchises. When the team falls short on track, it can weaken a narrative Ferrari has long used to justify its pricing power, especially as rivals such as Red Bull and McLaren continue to set the benchmark.
Hamilton’s comments land at a sensitive moment for Ferrari, which has spent heavily to keep its factory, power unit and driver lineup competitive but has yet to translate that investment into a sustained title challenge. The team’s struggles have been visible in race pace and execution, leaving it fighting for consistency rather than championships.
The stock has also reflected the swing in expectations. Ferrari shares, which recently traded at $389.91, have retreated from an August peak above $436 and sit below the 50-day moving average of $408.23, while the relative strength index has fallen to 23.6, a level that technical traders often view as oversold. The shares remain well above the 200-day moving average of $365.89, but momentum has clearly cooled after a strong mid-year run.
For investors, the issue is not simply trophies. Ferrari’s valuation relies on disciplined growth, high margins and the preservation of an elite brand narrative, all of which are helped when the company looks dominant in a global sport watched by hundreds of millions. Persistent underperformance in F1 risks turning a marketing asset into a cost center that does not fully justify the spend.
Hamilton’s frustration also highlights the pressure inside Ferrari to close the gap before the next major regulatory cycle reshapes the grid. If the team cannot convert its engineering spend into more podiums and wins, the market is likely to keep treating F1 success as a branding upside rather than a near-term catalyst.
| Entity | Gains | Losses |
|---|---|---|
| Red Bull and McLaren | ▲Competitive advantage | ▼Less pressure from Ferrari |
| Ferrari brand and sponsors if results improve | ▲Stronger halo effect | ▼Current title narrative |
| Ferrari shareholders | ▲Upside from winning momentum | ▼Valuation support from poor results |
| Rival teams and drivers | ▲More room at the front | ▼Ferrari title contention |



