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How VW became the world’s largest company

October 28th, 2008 · 3 Comments

Crazy story came out today…

This afternoon in Europe, due to some information revealed by Porsche about how much of VW it actually owned (74% instead of 35%), it’s shares hyper-inflated to become the world’s largest company measured through market-cap. The world’s largest company currently is ExxonMobil.

“Volkswagen briefly became the world’s largest company by market capitalisation on Tuesday as panic-buying by hedge funds desperate to cover losses caused its value to shoot up by up to €150bn.”

Even by end of day; VW is now worth more than …

“$254bn, … bigger than that of Wal-Mart, Microsoft and General Electric – the second, third and fourth-largest companies in the US.”

Them darn ‘markets be mighty screwy these days.

http://www.ft.com/cms/s/0/05bbd234-a4d2-11dd-b4f5-000077b07658.html

Tags: montreal + canada + the world · strangeness + randomness

3 responses so far ↓

  • 1 Ed Fladung // Oct 28, 2008 at 5:38 pm

    that article is insane. So let me get this straight. hedge funds are crying foul when Porsche reveals their cards (legal ones) and the share proces skyrockets and hedge funds lose a ton of money because they were shorting VW stock expecting the stock to go down. Serves them right for shorting the stock in the first place.

  • 2 Steve // Oct 28, 2008 at 5:47 pm

    I’m lost in it all.

    I almost don’t want to put the energy into understanding it all — there’s just some info I don’t need in my head (like it will infect me) !!

    zombie hedge fun traders …

    train of thought ends.

    click.

  • 3 Johan // Oct 29, 2008 at 9:11 am

    hehehe … evil hedge fund zombies…

    The evil wealthy elite have assembled their army of darkness; and they march out of Wall Street. Beware!