16 Votes

Boost it!

Weird Ass Tuesday: VW Passes Exxon As World's Largest Company

Agent009 submitted on 10/28/2008 Official Bell & Ross Timestamp: 9:42:13 AM

19 user comments | Category: Misc News | Source: | SOURCE: www.marketwatch.com

Volkswagen's massive stock price surge has briefly let Europe's top automaker to stake the claim as the world's largest company by market capitalization, passing oil giant Exxon Mobil.



Volkswagen continued to climb Tuesday as short sellers rushed to cover positions after Porsche Automobil Holding announced over the weekend that it would seek a 75% stake.

Porsche has options to buy 31.5% of VW while raising its direct equity stake to 42.6%.

2008 SEMA Auto Show Photo Gallery






Read Article

Weird Ass Tuesday: VW Passes Exxon As World's Largest Company

About the Author

Agent009

"If everything seems under control, you're just not going fast enough."

— Agent009 (View Profile)


User Comments

LexSucks

I thought that Toyota was the largest car company?

— LexSucks (View Profile)

Posted on 10/28/2008 10:27:14 AM | reply to this comment | Votes: -4   

TurboSpyder

"At its high on Tuesday, VW was worth 295 billion euros, or $367 billion, making it more valuable than Toyota Motor, Honda Motor, Nissan Motors, Daimler, Renault, Peugeot, General Motors and Ford Motor Co. Ford Motor Company combined"

— TurboSpyder (View Profile)

Posted on 10/28/2008 10:32:48 AM | | Votes: 5   

Agent009

That is indeed crazy.

— Agent009 (View Profile)

Posted on 10/28/2008 10:35:13 AM | | Votes: 2   

ThierryHenry14

Toyota/GM are the largest by vehicles delivered. VW is the largest in terms of market capitalization, which basically means the value of the company in the eyes of the market.

— ThierryHenry14 (View Profile)

Posted on 10/28/2008 3:50:19 PM | | Votes: 3   

veyron1001

I wonder if VW plans on buying out or some of a gas company?

— veyron1001 (View Profile)

Posted on 10/28/2008 11:11:59 AM | reply to this comment | Votes: 1   

Agent009

Well it is primarily a fluctuation in the market place... NOT any VW is doing to make the stock soar.

— Agent009 (View Profile)

Posted on 10/28/2008 12:02:09 PM | | Votes: 0   

993Turbo

I can hear the Democrats yelping already. "Big Auto passes Big Oil"! Somebody do something!

— 993Turbo (View Profile)

Posted on 10/28/2008 11:28:39 AM | reply to this comment | Votes: 4   

S4cabriofoxone

Wow. Go Porschewagen.

— S4cabriofoxone (View Profile)

Posted on 10/28/2008 12:35:35 PM | reply to this comment | Votes: 7   

1dott8

to amazin,

i guess a lot of people like to drive a fwd pos. lol

Go VW!!!

— 1dott8 (View Profile)

Posted on 10/28/2008 1:24:17 PM | reply to this comment | Votes: 5   

AudiNewEngland

He's too busy crying to respond yet. We'll wait till he dries up those tears.

— AudiNewEngland (View Profile)

Posted on 10/28/2008 2:16:16 PM | | Votes: 4   

Wazz

World's largest company? Thought that would have been Coca-Cola?

— Wazz (View Profile)

Posted on 10/28/2008 2:43:14 PM | reply to this comment | Votes: 2   

Agent009

You can rank companies by:

Net Worth
Sales
Profit

This just means VW is the most Valuable Company in the World for the time being, it really has nothing to do with sales.

— Agent009 (View Profile)

Posted on 10/28/2008 3:22:07 PM | | Votes: 2   

Wazz

But most profitable doesn't necessarily mean largest, I would think largest means how big its customer base is/how many countries it operates in, not how much money it rakes in.
Fortune 500 ranks Wal-mart stores as the 'biggest'.
http://money.cnn.com/magazines/fortune/global500/2008/full_list/

— Wazz (View Profile)

Posted on 10/29/2008 1:59:29 PM | | Votes: 1   

VISO

Agent009 you sound jealous...poor BMW. Maybe Audi will buy them.

— VISO (View Profile)

Posted on 10/28/2008 3:32:09 PM | reply to this comment | Votes: -1   

S4cabriofoxone

009 is an Audi fan.

— S4cabriofoxone (View Profile)

Posted on 10/28/2008 6:19:10 PM | | Votes: 2   

KeyserSoze

proposed development rustenburg

— KeyserSoze (View Profile)

Posted on 10/28/2008 6:24:31 PM | reply to this comment | Votes: 1   

Porschinator

Reason there are two articles on this?!?

— Porschinator (View Profile)

Posted on 10/28/2008 7:09:43 PM | reply to this comment | Votes: 1   

S4cabriofoxone

Because one is specific and one isn't. This one is not specific--it just says VW passes Exxon, which is news in itself. The other discusses stock prices.

Not to mention, it's not uncommon to see multiples. The fact that these two came from different sources is a good thing.

— S4cabriofoxone (View Profile)

Posted on 10/28/2008 11:58:38 PM | | Votes: 2   

Add your Comments

Images hosted in your AgentSpace can now be posted in the comments section using the following syntax (case matters): [img]IMAGE URL[/img]
Example: [img]http://agent001.myautospies.com/images/sample.jpg[/img]