Volkswagen’s Tesla moment on the stock market
The VW share seems to be increasingly becoming a gambler’s share. Even the financial supervisory authority Bafin is concerned with their price movements. The suspicion is that the same small investors are involved, who had recently hyped up the video game chain GameStop shares with coordinated actions. Shares in Volkswagen rose as much as 9% in Frankfurt on Thursday to their highest since April 2015. According to Reuters, a spokesperson said BaFin was watching the move in a “routine way” without further elaborati0n.
The news agency considers Volkswagen’s electric vehicle offensive to challenge market leader Tesla as the reason for the surge in investor enthusiasm. This has increased Volkswagen shares by more than 50% so far this year. The 83-year old Volkswagen Group unveiled plans to build half a dozen battery cell plants in Europe by 2030 and expand infrastructure for charging electric cars at the Power Day last Monday.
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