Formula One owner Liberty Media shares up after GM entry

Investing.comNov 25, 2024 7:52 PM

View all comments（0）



Investing.com - Formula One owner Liberty Media Formula One Corp A (NASDAQ:FWONA) shares were up more than 4% at $80. The company has reached an agreement in principle with General Motors (NYSE:GM) to support bringing GM/Cadillac as the 11th team to the Formula 1 grid in 2026.

The GM/Cadillac team is expected to compete with engine from another manufacturer, and will compete with GM engines later, which is likely to be 2028.

“With Formula 1’s continued growth plans in the US, we have always believed that welcoming an impressive US brand like GM/Cadillac to the grid and GM as a future power unit supplier could bring additional value and interest to the sport," Greg Maffei, CEO of Liberty Media

Liberty Media earlier this month also spun off most of its other assets, in order to focus on its motorsports businesses and announced a CEO succession program.

Following the spin-off, Liberty Media will mostly consist of motorsports subsidiaries Formula One and MotoGP, along with some other related sports investments.

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Comments (0)

Click the $ button, enter the symbol, and select to link a stock, ETF, or other ticker.

Commenting Guidelines

Recommended Articles

TSMC Second Quarter Net Profit Surges 77.4% to Record, AI Chip Demand Drives Results Above Estimates

TradingKey - On July 16, Eastern Time, TSMC (TSM) released its second-quarter 2026 financial results. The company's revenue for the quarter reached TWD 1.27 trillion, up 36.0% year-on-year and 12.0% quarter-on-quarter. In US dollar terms, revenue was USD 40.2 billion, representing a 33.7% year-on-year increase and reaching the upper end of the previous guidance range of USD 39.0 billion to USD 40.2 billion.

Micron (MU) Stock Crashes Below $910 as China’s CXMT Plans an $8.5B IPO; Is the DRAM Bull Cycle Cracking?

Micron fell 7% on July 15 as China’s CXMT announced an $8.5B IPO and the US government considered new HBM export restrictions. At $904, the 50-day EMA and $869 support are all that stand between bulls and a deeper drop. KeyBanc says buy it.

Today’s Market Recap: Unexpected PPI Drop Boosts Markets, Apple Hits All-Time High, AI Hardware Stocks Remain Under Pressure, Micron, SanDisk Slump

TradingKey - On July 15 ET, the three major U.S. stock indices closed higher for the second consecutive trading session. An unexpected decline in the U.S. June PPI further reinforced expectations of cooling inflation, while the start of the corporate earnings season continued to exceed market expect

Japan and South Korea Stocks Hammered at Open: KOSPI Tumbles 5%, SK Hynix Plunges 9%, Samsung, Kioxia and SoftBank Follow Lower

Japanese and South Korean stock markets opened sharply lower, with the KOSPI Index plunging 5% and the Nikkei 225 falling over 2%. SK Hynix led the decline with a drop of more than 9%, while Samsung Electronics, Kioxia, and SoftBank also followed the downward trend.

TSMC (TSM) Stock Forecast: June Revenue Up 68%, Q2 Earnings Tomorrow; Is $438 the Next Stop?

TradingKey - TSMC reports Q2 2026 earnings tomorrow, July 16. June revenue surged 68% year-on-year. Consensus: $40B revenue, $3.83 EPS. At $426 on trendline support, the key question is whether tomorrow’s print triggers a move back toward $438.

Featured Tools