What happened 2008 Volkswagen stock?
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.
Why did Volkswagen stock go up in 2008?
Panic among short sellers set in, and the supply-demand imbalance triggered a monumental short squeeze that drove its share price up from €210.85 to more than €1,000 in less than two days. Indeed, Volkswagen became the world’s largest company by market value on October 28—albeit, very briefly.
What did Volkswagen do in 2008?
In October 2008, Volkswagen saw its Frankfurt, Germany-listed shares more than quadruple in two days, briefly becoming the biggest company in the world. After Volkswagen’s peak on Oct. 28, 2008, the shares fell 58% in four days, and a month later the stock was down 70% from its top, giving back most of the squeeze.
How much did hedge funds lose on Volkswagen?
$30 billion
The end result was that hedge funds that had been shorting VW stock had lost some $30 billion in the process.
What was Volkswagen share price in 2008?
VOW. F – Volkswagen AG
| Date | Open | Low |
|---|---|---|
| Oct 29, 2008 | 527.03 | 487.48 |
| Oct 28, 2008 | 484.52 | 484.52 |
| Oct 27, 2008 | 365.86 | 321.36 |
| *Close price adjusted for splits.**Adjusted close price adjusted for splits and dividend and/or capital gain distributions. |
How much did VW squeeze in 2008?
On 27 October 2008, Volkswagen’s shares opened at €348 and closed at €517 – a rise of almost 150%. By Tuesday, the stock peaked at €999 per share, while short-selling costs were estimated to be in the tens of billions.
What was VW stock price in 2008?
VOW. F – Volkswagen AG
| Date | Open | Adj Close** |
|---|---|---|
| Oct 29, 2008 | 527.03 | 391.79 |
| Oct 28, 2008 | 484.52 | 700.06 |
| Oct 27, 2008 | 365.86 | 358.59 |
| *Close price adjusted for splits.**Adjusted close price adjusted for splits and dividend and/or capital gain distributions. |
When did Volkswagen stock squeeze?
2008
The biggest short squeeze in history occurred in 2008 when Porsche embarked on an unexpected series of maneuvers that left it controlling a huge percentage of Volkswagen’s (VW) stock. This briefly made VW the most valuable listed company in the world.
How did VW short squeeze end?
The Slump. The Volkswagen short squeeze did not last long. After to rising more than €1,000, the stock began plummeting following Porsche’s announcement that it would sell up to 5% of its stake (at a decent profit) to make life easier for desperate hedge funds and short-sellers.
When did stock market crash 2008?
On October 24, 2008, many of the world’s stock exchanges experienced the worst declines in their history, with drops of around 10% in most indices. In the U.S., the DJIA fell 3.6%, although not as much as other markets.
What price did VW reach in 2008?
VOW. F – Volkswagen AG
| Date | Open | High |
|---|---|---|
| Oct 29, 2008 | 527.03 | 597.96 |
| Oct 28, 2008 | 484.52 | 978.92 |
| Oct 27, 2008 | 365.86 | 604.16 |
| *Close price adjusted for splits.**Adjusted close price adjusted for splits and dividend and/or capital gain distributions. |
What did Volkswagen stock peak at in 2008?
What caused the VW short squeeze?
The biggest short squeeze in history occurred in 2008 when Porsche embarked on an unexpected series of maneuvers that left it controlling a huge percentage of Volkswagen’s (VW) stock. This briefly made VW the most valuable listed company in the world.
What is the highest Volkswagen stock has ever been?
Whatever the case, the stock markets are confident the company will succeed – VW’s stock briefly touched €1,005 ($1,261) yesterday, making the company the most valuable in the world at roughly €295 billion, or $369 billion, temporarily exceeding Exxon-Mobil’s $343 billion market capitalization.
What banks collapsed in 2008?
2008
| Bank | Date | |
|---|---|---|
| 2 | Hume Bank | March 7, 2008 |
| 3 | ANB Financial NA | May 9, 2008 |
| 4 | First Integrity Bank, NA | May 30, 2008 |
| 5 | IndyMac | July 11, 2008 |