how high did vw stock go

Why did Volkswagen’s stock rise so high?

102 rows · Discover historical prices for VWAGY stock on Yahoo Finance. View daily, weekly or monthly format back to when Volkswagen AG stock was issued.

Are VW shares worth 63 times 2009 earnings?

Mar 17, 2021 · High-growth Stocks. Return. 221%. S&P Return. 106%. Returns as of 05/02/2022. ... Why Volkswagen Stock Is Still Surging. Why Volkswagen's Plan to Beat Tesla Could Crush Other Electric-Car Stocks.

How did Volkswagen become the most valuable company in the world?

Mar 02, 2021 · This disparity caused short sellers to rush to buy more stock to cover their positions, driving the stock price further still through October 2008, with VW stock price now hovering just above €900, and at one point exceeding €1,000 in intraday trading.

Should Volkswagen stock be reweighted on the German DAX bluechip index?

Oct 28, 2008 · At that price Volkswagen's voting stock was worth 296 billion euros ($370 billion), or more than the $343 billion market capitalization …

What was the highest VW stock price?

How high did VW stock go during the squeeze?

What did Volkswagen stock peak at in 2008?

Is Volkswagen stock a strong buy?

How many days was the Volkswagen short squeeze?

How much did VW short squeeze?

Who owns VW now?

What is the biggest short squeeze ever?

What caused Volkswagen short squeeze?

Is Volkswagen a buy right now?

Is Volkswagen overvalued?

Does Volkswagen stock have a dividend?

Why is Volkswagen calling for lower import duties on electric cars in India?

Volkswagen AG, the world's second-largest carmaker, is calling for lower import duties on electric cars in India to help drive demand for clean vehicles, echoing Tesla's recent pitch which has divided the country's auto industry.

When is the deadline for a class action lawsuit against Volkswagen?

LOS ANGELES, June 23, 2021 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming June 29, 2021 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Volkswagen AG (“Volkswagen” or the “Company”) (OTC: VWAGY) securities between March 29, 2021 and March 30, 2021, inclusive (the “Class Period”). If you suffered a loss on your Volkswagen investments or would like to inquire about potentially p

How long will electric cars be profitable?

Electric cars to be profitable in three years, says Volkswagen. Electric cars will be profitable within “two or three years”, according to Volkswagen's boss, while Mercedes-Benz plans to spend more than €40bn (£34bn) to electrify its range.

Is VW ending production?

VW to end U.S. production, sales of Passat as focuses on SUVs. WASHINGTON (Reuters) -Volkswagen AG said Monday it will end U.S. sales and production of the Passat sedan next year, the latest shift by automakers away from cars and toward larger sport utility vehicles.

Is Volkswagen selling in China?

Volkswagen expects sales of its ID series of electric vehicles in China -- the world's largest car market -- to pick up significantly in the second half of the year, Chief Executive Herbert Diess said on Thursday.

When will Volkswagen become the largest seller of electric cars?

Shares of German auto giant Volkswagen ( OTC:VWAGY) were higher again on Wednesday morning, as investors continued to ponder the implications of the company's plan to surpass Tesla and become the world's largest seller of electric vehicles by 2025.

How many electric cars will Volkswagen make in 2021?

So what. Volkswagen said on Wednesday that it expects to deliver more than 450,000 electric vehicles (EVs) in 2021, more than double its 2020 total and a big step toward its goal of selling 3 million EVs a year by 2025.

When did VW become the biggest company in the world?

For a brief moment, on October 28th, 2008, Frankfurt-based company Volkswagon (VW) saw its shares more than quadrupled in two days. With that monster move, VW briefly became the biggest company in the world. Yes, the world!

How much did hedge funds lose in VW?

Hedge funds lost $30 billion in the VW squeeze. Within four days, the stock dropped in price by 58%. A similar phenomena happened with GameStop where hedge fund shorts got caught in a squeeze. Overall it cost them billions.

How long did the VW short squeeze last?

Have you heard of the VW short squeeze of 2008? It lasted four days and fell 58% from its high. Hedge funds took weeks to recover from that. For those of you following the hype of GameStop the last number of weeks, it might have felt erringly familiar. That’s because it has happened before. If you were around for the 2008 VW short squeeze, you know what I’m talking about. But first, we need to talk about short selling, so you don’t get yourself caught in the dreaded short squeeze.

What happens when a stock is short squeezed?

A short squeeze happens when a stock’s price begins to rise, forcing traders who had bet its price would fall to hastily buy it back to prevent even greater losses. By repurchasing their short positions, a feedback loop got triggered. The increasing demand attracts more buyers, which pushes the stock higher. In turn, this causes even more short-sellers to buy back or cover their positions.

How much of VW did Porsche own in 2008?

By late 2008, short positions ballooned. The kicker was that Porsche owned 43% of VW shares, 32% in options, and the government owned 20.2%. As you can see, this left very little that could be purchased by anybody else.

Why did Porsche make the announcement?

Porsche stated that they had “decided to make this announcement after it became clear that there are by far more short positions in the market than expected.”

What happens when you short a stock?

When you short a stock, you don’t own the shares outright, but you borrow them from your broker. I liken it to renting something; you get to use it temporarily, but you need to return it eventually. Keep that n mind about a VW short squeeze. As an example, you “borrow” or sell short 100 shares of GameStop $400.

Why did VW announce its short position?

It said it was announcing its plans because the number of short positions in VW were considerably higher than it expected and it consequently wanted to give investors the chance to unwind their bets “without haste and without greater risk.”

How much of Volkswagen does Porsche control?

The share price has rocketed since Porsche revealed in a surprise announcement on Sunday that it had effectively gained control of 74 percent of Volkswagen’s voting shares.

Did Porsche manipulate the market?

Porsche denied it was manipulating the market and said that the market had mixed up cause with effect.

Is the VW stampede historic?

Analysts and traders said the stampede was historic for German large caps, but they could foresee VW shares continuing to rise or stay at current levels.

Is VW stock reweighted?

But Wolfgang Gerke, a member of the Frankfurt Stock Exchange’s Exchange Council, told manager magazin’s online portal that VW stock should be reweighted on the German DAX bluechip index as soon as possible.

Why did index funds hold Volkswagen?

With this, index funds made up around 5% of Volkswagen share ownership due to VW’s big ol’ weighting in the DA X index. So all these index funds were required to hold Volkswagen in proportion to its weight in the DAX, of course.

How much was Volkswagen short interest in 2008?

But even by October of 2008, the short interest seemed not-too excessive. It stood at just 12.8% of outstanding shares being short.

What was the biggest short squeeze in history?

The Biggest Short Squeeze In History. Following the announcement by Porsche, that panic caused a short squeeze in Volkswagen shares. This massive short squeeze led the world to see the deeply troubled automaker briefly become the most valuable company in the world. Supply and demand got wild.

How much did Porsche lose in the Volkswagen short game?

Porsche pretty desperately needed money at this time, so this move was more valuable than you know! On the flip side of this action, the hedge funds who had been playing the Volkswagen short game saw losses that exceeded $30 billion.

What was the automotive industry in 2008?

The Automotive Industry In 2008. For reference, in 2008, the whole auto sector was considered to be a pretty sexy short trade. Up until 2008, General Motors had been the largest automaker in the world for literally over 70 years. I mean, damn. That’s a long run.

When did Porsche take a swing in the world of financial maneuvers?

This was, and still is considered, the biggest short squeeze in history! In late 2008, amidst the global financial crisis: Porsche took a swing in the world of financial maneuvers. After a series of clever, intense moves, this all set the path moving for Volkswagen to briefly become the most valuable company in the entire world.

Why do people short stocks?

Shorting a stock or a sector because it’s the “obvious” thing to do can and has historically made men and women cry on the phone and also lose fat stacks of money.

What happens if you short VW stock?

But with around 12 percent of VW’s outstanding shares sold short, it was impossible for every short seller to buy back their required shares and close out their positions. As such, a massive imbalance between supply and demand for VW stock emerged.

How much did VW lose from shorting?

Ultimately, those hedge funds that had shorted VW stock ended up losing an estimated $30 billion from their trades. “I have had hedge fund managers literally in tears on the phone,” said one London-based analyst on the 29th, whilst other hedge-fund managers reportedly compared the Porsche disclosure to a “nuclear bomb going off in our faces”, describing the resulting losses as “a bloodbath”.

When did Porsche short squeeze Volkswagen?

The entire episode harkens back to the days of October 2008, when Porsche inflicted a similar short squeeze on Volkswagen (VW), its fellow automaker and occasional but long-running business partner. Indeed, right in the midst of the global financial crisis (GFC), when following the collapse of Lehman Brothers investors were panic selling across the world and markets were tanking, the “mother of all short squeezes” arose, as one analyst at the time put it.

How much money did Keith Patrick Gill make?

Here is a video of the original GameStop (GME) technical analysis provided by Keith Patrick Gill (Reddit username DeepFuckingValue) who turned $53,000 (US) into nearly $50 million .

Did Porsche make money?

But Porsche was able to make huge sums of money, which is even more startling given how badly the automotive industry was doing at the time. Reports emerged of angry traders raging at what they perceived to be a Blitzkrieg attack by Porsche on the financial system, seemingly allowed by German regulators, which permitted it to secretly accumulate VW stock options without having to declare its hand.

What strategy did hedge funds use to buy Volkswagen shares?

Hedge funds had used several strategies in VW shares. One was to exploit the difference in value between two classes of Volkswagen stock. Another was to buy into Porsche while betting that Volkswagen shares would fall.

How much does Porsche own Volkswagen?

On Sunday, Porsche said it raised its stake in Volkswagen to 42.6 percent from 35 percent, and that it had taken options for another 31.5 percent.

What happens when Porsche options expire?

When the options expire, Porsche will receive the difference between the market price of the shares and the exercise price of the options. That could amount to tens of billions of euros.

What is Porsche's strategy?

Its strategy has been to make a creeping takeover of the company, purchasing options or shares in the open market and later announcing its new shareholding level in the company.

Which is the most valuable car company in the world?

The auto industry is struggling, but for a few minutes on Tuesday, Volkswagen became the most valuable company in the world, one with a market value greater than Apple, Philip Morris and Intel combined.

Did Morgan Stanley have a large exposure to Volkswagen?

Jeanmarie McFadden, a spokeswoman for Morgan Stanley, said the firm had less than $25 million in exposure to Volkswagen. A person who had talked to Goldman officials, but who refused to be quoted by name, said that firm did not have a large exposure to Volkswagen. Porsche has made big profits on trading options in VW before.

Is VW a German company?

Volkswagen is one of the 30 companies in the DAX index, Germany’s most prominent stock index, and index funds own a significant number of shares. Those funds, however, may sell shares Wednesday. On Tuesday night the German stock exchange said it would reduce from 27 percent to 10 percent the weighting of VW in the index.

How much was Volkswagen short position in 2008?

By late 2008, short positions were 12 percent above outstanding shares. But since most of Volkswagen's shares were reserved for institutional and governmental shareholders, there was a disparity in purchasing power.

How long did the VW short squeeze last?

How long the Volkswagen short squeeze lasted. The bulk of the Volkswagen short squeeze lasted just four days, after which shares had fallen 58 percent from their peak. However, it took weeks for VW stock to falter enough for most of the squeeze to have been returned to hedge funds at last.

Did the Volkswagen squeeze last?

However, the interesting thing is that the squeeze didn't last. Most hedge funds maintained their positions and they were rewarded by a 70 percent dip just one month after the Volkswagen squeeze. Article continues below advertisement.

How much did Steve Cohen lose on VW?

SAC Capital’s Steve Cohen had said that his fund alone had lost $250 million in just one week on VW. Steve Cohen Tells Paul Tudor Jones About Two Worst Days of His Life (Business Insider, Feb. 2011) Various funds would end up filing civil suits against Porsche to attempt to recover their losses.

Who are the short sellers of VW?

This included David Einhorn of Greenlight Capital, Andreas Halvorsen of Viking Global, Paul Singer of Elliott Management, Glenn Krevlin of Glenhill Capital, Crispin Odey of Odey Asset Management, among others. SAC Capital’s Steve Cohen had said that his fund alone had lost $250 million in just one week on VW.

How much did Porsche make in 2008?

In 2008, as a result of the VW infinity squeeze, Porsche earned a bottom line profit of nearly €7 billion. For 2008 alone, CEO Wiedeking received a bonus of €80 million. He was then “pushed out” of Porsche in 2009, but was given an additional bonus of €50 million on his way out.

Why did luxury car sales fall?

Luxury car sales were plunging due to the crisis and Porsche was already saddled with significant debt. On the other side of the trade, the hedge funds who had sold VW short quickly saw their collective losses exceed $30 billion.

What was the catalyst for VW squeeze?

It was a stealth move, made possible through the use of multiple purchases of cash-settled derivatives which had been accumulated separately through different European investment banks.

What caused the VW Infinity Squeeze?

The VW Infinity Squeeze. Following the announcement by Porsche, the resulting panic caused a short squeeze in VW shares that saw the deeply troubled automaker briefly become the most valuable company in the world – despite being in the middle of the worst financial crisis since the great depression.

What was the effect of Porsche's announcement?

The announcement triggered a mass panic for the exits by anyone who was short shares of VW.