
Volkswagen stock price surge following Porsche share increase
By: Peter Chubb | October 28, 2008 | 2 CommentsVolkswagen AG stock price has increased fourfold in two days following news that Porsche are to increase their shares in the automaker. Germany’s financial-markets regulator is now taking a close look at trading between Volkswagen AG.
The gains in Volkswagen soared once people heard the news from Porsche that they plan to increase their stake in Volkswagen to 75 percent. This news has forced short-sellers to cover bets on a decline of the stock.
Volkswagen is the most shorted stock in Germany’s benchmark DAX Index; their common shares reached a high of 296 billion Euros ($370 billion). As yet the no formal inquiry has been launched.
Source – Bloomberg
Follow us on Facebook, Twitter and Google+.
Download our free iPhone and iPad apps, or read more in Autos.
You may also like...
-
GM IPO Stock: $33 Per Share, $20.1 billion -
Verizon iPhone 4: Rumor Affects Share Price -
More Apple stock news and insight
- ghost
- art newell






