Shares of Volkswagen AG (ETR:VOW3) are up big today, in a move that has contradicted the stock’s movement over the past month in a half. Shares of the stock have fallen all the way from €133.75 on January 1st, 2016 all the way down to €94 as recently as last week. Recalls, and other controversy have been causing investors to become increasingly bearish of the automobile manufacturer over the past several weeks, but today, as the European stock market has rebounded, so have shares of Volkswagen AG (ETR:VOW3).
Despite the fact that Nord/LB just gave the stock a “Neutral” rating and set a €90.00 on February 12, today’s move is a bit surprising. There has been a lot of talk over the past couple weeks about the potential that VW could move to focus more on electric vehicles, but things still remain up in the air.
The stock is up 7.62% or $7.25 following the news, hitting €102.45 per share. About 1.09 million shares traded hands. vow3 has risen 6.00% since January 16, 2016 and is uptrending. It has outperformed the S&P500 by 15.47%.
Volkswagen AG is a Germany-based automobile maker and a carmaker in Europe. The company has a market cap of $56.25 billion. The Firm develops vehicles and components, and produces and sells vehicles, in particular passenger cars and light commercial vehicles for the passenger cars and commercial vehicles brands. It has 8.32 P/E ratio. The activities of the Company’s Automotive division consists of the development of vehicles and engines, the production and sale of passenger cars, light commercial vehicles, trucks, buses and motorcycles, as well as the genuine parts, large-bore diesel engines, turbomachinery, special gear units, propulsion components and testing systems businesses.