Formula 1 stock zooms higher on nascent US fandom
CNN
The globally loved Formula 1 racing is winning more US fans, thanks largely to Netflix's popular "Drive to Survive" reality show and ESPN's coverage of the races. And F1's stock is red hot, too.
The company is owned by Liberty Media — the conglomerate controlled by John Malone that also owns a big stake in Sirius XM (LSXMA) and the Atlanta Braves (BATRA) baseball team — which has three classes of shares for F1 (FWONA) that track the performance of the business.
Those F1 stocks (FWONK) are up nearly 10% this year and about 50% over the past 12 months as more fans flock to tracks around the globe and watch the races on TV. The tracking stocks (FWONB) don't give people ownership of the underlying company or a vote at shareholder meetings like regular stocks do — but investors don't mind.
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