The Last Shall Be First?
Minnesota is not recognized as one of the capitals of stock car racing, but that doesn’t stop five locally based companies from coveted sponsorship tie-ins with Nascar’s Ã¼ber-American audience.
The Daytona 500, Nascar’s prestige race, took place in late February, delayed by rain and fiery crashes (including the Target car). We followed the shares of the sponsoring companies to see if they tracked Daytona’s results in the month after the race. The data indicates that winning Nascar races can be harmful to your stock, but crashes clearly do not portend a stock collapse!