Volkswagen stock surges

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Source: Dukascopy Bank SA


During Wednesday's European trading hours, the stock price for Volkswagen surged by 7.00% or 14.50 EUR. The stock price extended a three day surge, which was caused by a string of positive news from the company. During this week the price had gained 16.25% or 31.10 EUR.

Among the news were expected increases of earnings in 2021, dealings with electric vehicle car batteries, an inflow of retail trader buying and above all an announcement from the CEO that the company is worth 200 billion EUR (238 billion USD). During the announcement the total market cap of the company was 150 billion USD.

Moreover note that starting from early June 2020 up to late January 2021 the price was testing the resistance zone above the 150.00 EUR. Since this resistance was passed, the stock has gained more than 40.00%.

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