FWONK Stock Summary and Trading Ideas (Liberty Formula One Group | NASDAQ:FWONK)

Formula One Group controls the exclusive commercial and promotional rights to the FIA Formula One World Championship series, and the monetization of those rights is the primary business of the group. The firm is responsible for development and promotion of the Formula One race series in concert with its three partners: the FIA (the regulatory body), the teams that participate in the series, and the series' commercial partners, which include the race promoters, broadcasters, sponsors, and advertisers. The F1 schedule in 2023 will encompass 23 races held on five continents. Formula One Group is a subsidiary of Liberty Media, which purchased the firm in January 2017. Formula One stock is a tracking stock for the assets under Formula One Group with Liberty Media.

Liberty Formula One Group trades on the NASDAQ stock market under the symbol FWONK.

As of April 19, 2024, FWONK stock price climbed to $68.10 with 666,140 million shares trading.

FWONK has a beta of 0.57, meaning it tends to be less sensitive to market movements. FWONK has a correlation of 0.07 to the broad based SPY ETF.

FWONK has a market cap of $15.96 billion. This is considered a Large Cap stock.

Last quarter Liberty Formula One Group reported $1 billion in Revenue and $.32 earnings per share. This fell short of revenue expectation by $-30 million and exceeded earnings estimates by $.06.

In the last 3 years, FWONK stock traded as high as $80.13 and as low as $42.84.

The top ETF exchange traded funds that FWONK belongs to (by Net Assets): VTI, VB, VXF, VBK, SCHM.

FWONK stock has underperformed the market in the last year with a return of -7.7%, while SPY returned +21.2%. This shows that you would have done better investing in the overall market (through SPY) over the last year than in FWONK shares. However, FWONK has outperformed the market in the last 3 month and 2 week periods, returning +8.0% and -0.6%, while SPY returned +3.0% and -4.5%, respectively. This indicates FWONK has been having a stronger performance recently.

FWONK support price is $66.18 and resistance is $68.25 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that FWONK stock will trade within this expected range on the day.