VeeDub Stock Goes Nuts
Market crash? Say what? Volkswagen’s stock price continue to defy market malaise and Newtonian physics. After wild gyrations last week, the Volkswagen stock– better known as WKN: 766400 / ISIN: DE0007664005– went berserk today. It opened at €500, and then more than doubled its value to €1005. At the time of this typing, it stands at €670. At its high, VW had a market cap of €296b ($369,272,943,612.85). For a while, VW was the most expensive corporation on the planet. VW represented half of the DAX, the German version of the Dow Jones. Again, it was the shorts that were caught with their pants down and the stock up. According to Automobilwoche (sub), when Porsche announced they’d raised their share in Volkswagen, it dawned on the traders “that only 6 percent of the shares are still available on the open market.” What’s more, funds that get compared with the DAX are now forced to buy Das Auto, Newton be damned. If someone played their options right, buying Volkswagen didn’t need the measly profits from a few Cayennes. While the financial world is falling apart, there is a tulip craze, Wolfsburg style. Detroit, eat your heart out.
Bertel Schmitt comes back to journalism after taking a 35 year break in advertising and marketing. He ran and owned advertising agencies in Duesseldorf, Germany, and New York City. Volkswagen A.G. was Bertel's most important corporate account. Schmitt's advertising and marketing career touched many corners of the industry with a special focus on automotive products and services. Since 2004, he lives in Japan and China with his wife <a href="http://www.tomokoandbertel.com"> Tomoko </a>. Bertel Schmitt is a founding board member of the <a href="http://www.offshoresuperseries.com"> Offshore Super Series </a>, an American offshore powerboat racing organization. He is co-owner of the racing team Typhoon.
More by Bertel Schmitt
Comments
Join the conversation
You gotta love this stuff... Just a shame to realize that once again, most of us missed the opportunity to deposit a minivan and at the end of the day walk away with a nice [s]Cayenne[/s] 911. Or better yet start with nothing and walk away with infinite amounts of cash.
Oh FFS, why can't the MKVI GTI come here yesterday? At least they're reconsidering the Sirocco...
My broker called this morning to say the stock was squeezed, quadrupling in value, and it was a good time to sell. We sold the respective VeeDub grubstakes of my son (1st grade) and daughter (kindergarten) and I'd like to thank Messrs. Porsche and Weideking for their Machiavellan maneuvers that resulted in the hefty increase in their college fund. Glad we sold the FoMoCo shares back in the day when they traded in the 40's... shit, maybe I should lease a CC to say thanks-no one else has bought one yet...
"maybe I should lease a CC to say thanks-no one else has bought one yet…" Are you kidding me? They havent even had their official launch and I've had to beg for more of them already. They're as popular as TDI's. Kind of strange for Michigan