If Porsche does not have any EV model (I dunno), then this IPO is doomed to fail, I fear... Update: Porsche has the "Porsche Taycan" EV model(s): https://www.porsche.com/international/models/taycan/taycan-models/taycan/
That Oct 2008 squeeze was amazing. *Wasn’t involved either side but it definitely made/ended a lot of careers
I think it ended more trading careers than it made. Most of Wall Street was short it and most pensioners were long it.
1950-1970's : Simple times. People bought the car and were happy. 1980's : Sales were falling so the gimmicks known as the 928, 944 and 968 were made. 1990's: No one really wanted the gimmicks so Porsche had to hire Toyota to make their production more efficient. In the meantime they created the Boxster. 2000's: Boxster aka not a real Porsche because from the back of the door to the front of the car was a 911 and this pissed off the 911 owners. Late 2000's: Porsche headed to bankruptcy, bought by VW. 2010's: Sales stagnating late 2010's. Four door is an ugly thing. 2020's: VW spinning it off to let it die. 2030's: D E D
It always cracks me up how millennials think that GME was something to make movies about. The VV infinity squeeze was definitely the god-mother of all squeezes. Ironically, no one talked about it much after it happened. You were either liquidated and committed suicide after, or survived it, and we had a financial crisis still to worry about.
I remember that lol. 2008: ____________ In the middle of the 2008 financial crisis, Volkswagen AG (OTC: VWAGY) and Porsche were involved in perhaps the most well-known short squeeze of all time. Porsche which already owned 44% of Volkswagen acquired a large number of shares in Volkswagen, an additional 31% stake. In total Porsche owned 75% of Volkswagen, and since the German state of Lower Saxony owned the remaining 20%, there were less than 6% of the float of shares available. During the same time, hedge funds and short-sellers had borrowed 13% of the shares to short, which meant they could not cover unless Porsche or the Lower Saxony state decided to sell. As a result, the short-sellers were forced to buy back the shares they had sold, driving the stock price from €210 to over €1,000 a share. Hedge funds are believed to have lost about $30 billion on the Volkswagen AG bet. The Volkswagen AG short-squeeze scenario shows that even though a company may be declining, a competitor can acquire and ruin a short position's potential for profits. It's a great example of how two companies can be intertwined and how short-sellers need to be aware of these relationships when placing their bets.