Formula 1 Has a New Friend in General Motors

The Motley FoolDec 2, 2024 4:24 PM

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Formula 1 is adding an 11th team in 2026 and it will be owned by U.S. automaker General Motors (NYSE: GM). The deal comes after contentious negotiations, but is a win for both sides, brining another "works" team to the grid and massive exposure to GM. Travis Hoium covers the details in the video below.

*Stock prices used were end-of-day prices of Nov. 28, 2024. The video was published on Nov. 30, 2024.

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Travis Hoium has positions in General Motors. The Motley Fool recommends General Motors and Volkswagen Ag and recommends the following options: long January 2025 $25 calls on General Motors. The Motley Fool has a disclosure policy. Travis Hoium is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.

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

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