A clear and easy to understand explanation please!Can some one explain basically what happened in the Porsche VW saga?Porsche basically owns more of the stock of VW, thus they are considered the controlling company now, or new owners of VW.Can some one explain basically what happened in the Porsche VW saga?On the stockmarket, Hedge Funds short-sold shares in VW that they didn't own, hoping to force the price down and buying them back for less, making a profit.
When Porsche announced that they owned some 74% of VW, these hedge funds had to buy shares in VW to close their positions.
As there were so few shares around, the price went up a lot, meaning the hedge fund "speculators" lost loads of money.Can some one explain basically what happened in the Porsche VW saga?%26gt; "Porsche VW saga?"
saga?? That's jargon for what exactly?Can some one explain basically what happened in the Porsche VW saga?
They both ended up making cars. The end.
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