In a sign that the car industry is alive and well, the market cap of VW passed Exxon (XOM) to move it into first place worldwide.
According to Bloomberg, the stock rose when “Porsche SE announced plans to raise its stake in the German carmaker to 75 percent, triggering demand from short-sellers.”
Now VW can buy Toyota (TM) and have equity left over to pick up Ford (F) and GM (GM) to boot.
Douglas A. McIntyre
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