VW’s Furious Rally Fueled by Surge in U.S. Trading Volume
- Market value soars to more than 150 billion euros in Frankfurt
- Investors pile into ADRs that usually are thinly traded
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Volkswagen AG shares continued their meteoric rise as U.S. retail investors seized on the stock amid rapid-fire announcements on the company’s efforts to rival Tesla Inc. in electric vehicles.
The German carmaker’s common stock soared as much as 16% while its preference shares climbed more than 9% before selling off in Frankfurt’s afternoon trading. VW’s market value exceeded 150 billion euros ($180 billion) early in the session after overtaking SAP SE as Germany’s most valuable public company.