Porsche announced on Sunday that it aims to take a 75% stakeholding of Volkswagen shares. Volkswagen stock were fueled once people heard the news and rose from 210.52 Euro on friday to 945 Euro on closure today, 28th. October.
This equals a rose than four fold rise over just two days. Speculators who had bet on a fall in the stock of VW has been hurt strongly.
As a result the DAX index of German stocks rose unexpectedly as much as 10 percent on Tuesday, but would actually be down due to recession fears.
Germany’s market watchdog BaFIN is now taking a close look at the trading but did not launch a formal investigation yet.