Unstoppable Volkswagen: Volkswagen shares rally over plans to overtake Tesla in the Electric Vehicle space.
Shares in Germany’s Volkswagen went up earlier today Thursday and on course for a fourth daily rise and their best week ever as investors are excited about its plans to overtake Tesla in the electric car market.
This price surge pushed Volkswagen’s market value above $160 billion, attracting both institutional and retail investors globally and making the carmaker the biggest company of the DAX (a key index in Germany) benchmark index ahead of a software company, SAP.
Volkswagen’s main shares rose by 4.6% at about 08:31 GMT and up 27% in the week. Its less liquid ordinary stock was up 9.3% and up 46.5% in the week in its best run since Volkswagen’s short squeeze in 2008.
#volkswagen #tesla #EV #businessstance #explore