VW shares up 54 % on Porsche move

stock777 · Oct 28, 2008

Volks shorts have been issued a new sphincter to cover the losses.

Nice call by Barrons Bary , not.

JamesJ · Oct 28, 2008

the dax and eurostoxx indices will probably be adjusted today after market close (reducing VOW).

source: dow jones news

gaj · Oct 28, 2008

any options available on VW here in the states? can't find any....

(just found some on IB, through IBIS)

m22au · Oct 28, 2008

Good summary by David Faber on CNBC a few minutes ago.

Highlighted:

* the Porsche stake in VW being worth more than 10 times the market cap of Porsche (100 billion versus 8 billion)

* VW traded at 100 times 2009 earnings earlier in the day

* VW worth more than XOM earlier in the day

* that VW is the main driver of the DAX today

* speculated that this might take down a hedge fund or two

syswizard · Oct 28, 2008

Truly a B.S. UNSUSTAINABLE move.
What does it mean ?:
We've got tons more to go on the downside.
Dow 5900 anyone ?

m22au · Oct 28, 2008

All I can find is VLKAY on the pink sheets

http://www.pinksheets.com/pink/quote/quote.jsp?symbol=vlkay#getCompanyInfo

ADRs are 0.2 of an ordinary share

So at 800 EUR, 800 * 0.2 = 160 EUR

160 * 1.25 = 200 USD per share indicative price

Quote from gaj:

any options available on VW here in the states? can't find any....

(just found some on IB, through IBIS)

m22au · Oct 28, 2008

I agree that this is nuts, however I don't think it is indicative of anything for the broader market.

This is just a specific situation relating to Porsche and VW, and a silly situation relating to those two stocks only.

Quote from syswizard:

Truly a B.S. UNSUSTAINABLE move.
What does it mean ?:
We've got tons more to go on the downside.
Dow 5900 anyone ?

makloda · Oct 28, 2008

Quote from m22au:* speculated that this might take down a hedge fund or two

No doubt about it. Whoever is being squeezed there in size is toast.

gaj · Oct 28, 2008

damn, us citizens can't trade non-u.s. options (sec rule). ARGH....sec again...

m22au · Oct 28, 2008

I'm short VW, but the more I think about it, the only thing stopping it from going to 2,000 or infinity Euros per share is a seller

Quote from gaj:

damn, us citizens can't trade non-u.s. options (sec rule). ARGH....sec again...