October 29, 2008
He Who Sells What Isn’t His’n
Volkswagen Overtakes Exxon as Most Valuable Company
“Volkswagen rose more than fourfold in two days. At its high today, Wolfsburg, Germany-based Volkswagen’s common shares were valued at $370 billion, more than Exxon Mobil Corp.’s $343 billion.”
That’s an even more impressive short squeeze than the one in crude back in September.
Cat: | Time: 9:52 am (utc+8)
October 29th, 2008 at 12:33 pm
Fundamentals and the Efficient Market have finally asserted themselves as Vdub reaches a market cap exceeding all of the car makers on the planet combined.
October 29th, 2008 at 2:10 pm
@Cap: Yes, and the beautiful thing is Eugene Fama drives a 1986 Jetta.
October 31st, 2008 at 7:23 am
The day after, it went back to around $130 from the high of $230.
October 31st, 2008 at 10:09 am
@moo: Yes, it was bound to happen, right after the last short covered. :-)
October 31st, 2008 at 7:09 pm
Hey Chairman, where’d the TD Sequential counts go? I found them mesmerizing.
October 31st, 2008 at 8:40 pm
@Steve: On the intraday charts there are always a million counts and I find it too distracting … I try to keep the charts as simple and clean as possible.