1/8/2024 0 Comments Vw short squeeze![]() "Hardly a single other German corporate dynasty acts in such unpredictable and relentless way as the Merckle clan from Blaubeuren."įorbes recently ranked Merckle as the fifth-richest person in Germany, with a fortune worth an estimated $9.2 billion.Īccording to Forbes, Merckle's fortune was inherited from his Bohemian grandfather, but he has nurtured a chemical wholesale company, Phoenix Pharmahandel, into the largest pharmaceuticals wholesaler in Germany, with annual sales of €21.6 billion. "Adolf Merckle collects companies like others collect watches," wrote Manager Magazin, in one of the few extensive portraits of the German billionaire. VLKAF - Short squeeze stock short interest data and short selling information for shares of VOLKSWAGEN A G ORD. He has assembled a business conglomerate with about 100,000 employees and €30 billion in annual sales. MANHATTAN (CN) - A federal judge dismissed a 2 billion lawsuit filed by a group of 39 hedge funds, claiming that Porsche cornered the market on Volkswagen. ![]() By 2006, Porsche had announced that it wanted to boost its shareholdings of VW and did so by acquiring substantially more stock in the company, which, in turn, began pushing the share price higher. Ratiopharm and HeidelbergCement are just two companies in Merckle's vast portfolio, which also includes a maker of grooming vehicles for ski slopes, a sugar refinery and one of Germany's oldest foundries. When short sellers realized that Porsche had bought a major stake in Volkswagen and there would not be enough shares for short sellers to cover their positions. The Volkswagen-Porsche Short Squeeze happened in the middle of the global financial crisis. The losses have fueled speculation that the industrialist could sell the generic drug company Ratiopharm or part of his stake in HeidelbergCement, both of which are based in Baden-Württemberg. At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage. In October 2008, a short squeeze triggered by an attempted takeover by Porsche temporarily drove the shares of Volkswagen AG on the Xetra DAX from 210.85.
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