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In October 2008, a short squeeze triggered by an attempted takeover by Porsche temporarily drove the shares of Volkswagen AG on the Xetra DAX from €210.85 to over €1000 in less than two days, briefly making it the most valuable company in the world.
For three years from 2006 through 2008, Porsche accumulated shares of fellow German carmaker Volkswagen in hopes of executing a takeover. But some of the hottest hedge funds on Wall Street ...
Porsche claimed that its actions were intended to gain control of Volkswagen rather than to manipulate the market: in this case, while cornering the market in Volkswagen shares, Porsche contracted with naked shorts—resulting in a short squeeze on them. [13]
Also in 2008, Merckle made a speculative investment based on his belief that Volkswagen shares would fall; however, in October 2008, Porsche SE's support of Volkswagen led to a short squeeze that sent shares on the Xetra stock exchange from €210.85 to over €1,000 in less than two days. It is believed that he lost as much as €500 million.
More than a decade after the short squeeze of VW stock, retail traders team up against hedge funds. Skip to main content. Sign in. Mail. 24/7 Help. For premium support please call: 800-290-4726 ...
Shares in Volkswagen's sportscar brand Porsche started trading on Thursday in what marks Germany's second-largest listing ever as well as a new phase in a sometimes fraught relationship between ...
Volkswagen announced its intention to float sportscar maker Porsche on Monday, marking a new phase in a sometimes fraught relationship between the two leading auto brands that goes back decades.
Porsche SE was created in June 2007 by renaming the old Dr. Ing. h.c. F. Porsche AG, and became a holding company for the families' stake in Porsche Zwischenholding GmbH (50.1%) (which in turn held 100% of the old Porsche AG) and currently is the major shareholder in Volkswagen AG (31.3%) and holds the majority voting rights (53.1%).