Volkswagen undervalued but battery business will help, shareholder says | Autoblog

maker Porsche in part to raise funds, Stephan Weil said he believed the group had potential far above its valuation, adding it was not time to consider capital increases."Volkswagen has unbelievable potential ... there is a lot to suggest its activities around batteries will increase the value of the group in a sustainable way," Weil said on the sidelines of his election campaign.

Volkswagen's market capitalization exceeded 100 billion euros in March 2021 as the carmaker released ambitious electrification targets, but has dropped to 82.9 billion euros amid a wider European slump this year. Conversations thus far about a listing of Porsche AG, which could be triggered as soon as next week, went smoothly so far, Weil said, adding the state remained committed to its stake in the Volkswagen Group.

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Stocks shed early gains, end lower for 3rd straight weekStocks turned lower on Wall Street in afternoon trading Friday, shedding all their gains from an early rally that followed the release of the government’s latest job market update. Fck the market. The market is the ahole that keeps telling us that if things are too good, it’ll cause inflation (better raise rates before we can all afford houses!). The market tells us it’s bad when employees have power (No! The plebs might make $$!)
Source: PhillyInquirer - 🏆 81. / 68 Read more »