Bafin
The financial supervisory authority routinely looks at the price rally, according to the Bafin.
(Photo: Bloomberg)
The latest price rally at Volkswagen calls the financial regulator on the plan. The Bafin routinely watch the movements, said a spokeswoman on Thursday. The papers of the Wolfsburg-based group had attracted attention in the past few days with some double-digit percentage price jumps.
The preferred shares listed in the Dax rose on Thursday by more than nine percent to a six-year high of 252.20 euros, but gave up these gains almost entirely by noon. The common shares even gained almost 15 percent at their peak and reached a twelve-and-a-half-year high of 353 euros.
This added up to the plus of the past few days to more than 50 percent. This is the strongest increase since the capricious course in the course of the takeover by Porsche in autumn 2008.
The tribes often move above average because only a few are freely tradable. Around 90 percent of the papers are firmly held by the major shareholders Porsche, Lower Saxony and Qatar. With a current market capitalization of almost 150 billion dollars, VW is now worth more than its competitors BMW and Daimler combined.
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With its new electric car platform, VW is becoming a serious competitor for US rival Tesla, commented JPMorgan analyst Jose Asumendi. In addition, thanks to the corporate restructuring, there is a chance that VW will exceed its targeted operating profit margin of 5.5 to 6.5 percent.
Very popular, especially with small investors
The German carmaker is currently particularly popular with small investors, said a stock trader. VW is celebrated as the new Tesla in forums such as “Wall Street Bets” on the Internet platform Reddit. Its shares fell in the pre-market US business by 2.6 percent.
More: What US investors have to do with the rally in VW shares