Think it is actually realtime. Down 7.68% at 107.03 for me. Are you looking at the Frankfurt listing or a different one?
Volkswagen Admits to Cheating US Emissions Tests
- Thread starter Sir Matt
- Start date
Hmm, it's 'Volkswagen AG (ETR:VOW3)' I'm watching, listed in EUR but I can't see a market on this page to confirm.
check FRA:VOW
I get it as VOW in my trading platform.
How come there's two listings for the same stock?
This FRA one says it's real-time rather than delayed and is at 99.88 at the minute.
Ok, I was on FRA:VOW3, now I'm on FRA:VOW.
This one is 107.20 - where's the difference come from?
This one is 107.20 - where's the difference come from?
Ok so VOW3 is preference shares.
Probably a bit late to get into the stock at this point since its already made its move.
It's down 8.4% now. Reckon it's too early to get in, if anything, because the scale of the fines and sanctions it faces are unquantifiable. Bankruptcy is still an outlying risk, but I reckon a massive, dilutive rights issue is a very real risk.Get in, as in buy it ? The entire global system is heading to recession, so i would be cautious about going long any equities for a while.
Can't imagine someone won't pick VW up
Trouble is you never know where the floor is. It could be at 100 or it could be at 60. Also, stocks often behave 60% according to the market conditions and most global markets including Germany are experiencing a lot of volatility at the moment.
Very true, but you would assume there would be a rough point it would return to, even say 50% of it's initial value.. Should that be true, any time after it's dropped below that %, you would be better off. However as you say, it's a case of predicting how low it will get, but I can't imagine it will keep falling for long. Are there any similar sized companies that were exposed and their price crashed? Wondered if we could use that as a template to predict how long (time) it will drop, rather than try and work out % predictions.
Wynn is another one - 3 months ago I thought it would hit a floor at 100 and start rising again, but China/Macau as well as broader market conditions in the US didn't cooperate and now it's in the upper 50s. Dodged a bullet there.
Goes to show I suppose there's a lot more involved and it may not be as straight forward as I think..
It's impossible to predict tbh. I guess you could look at the likes of BP or the banks, but I certainly wouldn't use them as a template.
Tesco was another last year. Loads of people piled in after its second profit warning and then came the £250m accounting blackhole. Even Warren Buffet got it wrong and lost hundreds of millions.
Bad news tends to come in twos or threes, not just this one big shock we've had. Agree a recession within the next two years is quite likely btw.
Actually, look at Glencore to see how bad things can get. It's down 27% today and 77% YTD.
Too many class actions, not a chance to save the company from the bankruptcy.
They have declare the bankruptcy and restart from zero.
They have declare the bankruptcy and restart from zero.
Will this mean cheaper prices at my local VW dealership?
VW scandal: 1.2m UK vehicles affected
http://www.bbc.co.uk/news/business-34399503
Does anyone know if this effects a specific model or cars built in a certain time period?
Have a VW diesel myself
http://www.bbc.co.uk/news/business-34399503
Does anyone know if this effects a specific model or cars built in a certain time period?
Have a VW diesel myself
They're going to get in touch and set up a website etc...according to this. You might be in line for a payout.VW scandal: 1.2m UK vehicles affected
http://www.bbc.co.uk/news/business-34399503
Does anyone know if this effects a specific model or cars built in a certain time period?
Have a VW diesel myself
http://www.theguardian.com/business/2015/sep/29/vw-owners-can-expect-recall-information-this-week
I have a friend who suggests this is the tip of the iceberg
Lets be honest VW is a big group and 100's of people would have worked on this software and its implementation... thousands would have known about its use through the supply chain / management / lawyers etc.
Its inconceivable that not one (probably many many more) of these people never went to work for another car company and they must have had the conversation as to if / how they do it here.
If no other car companies did it you can be sure as soon as they found out that they would have called the authorities themselves and this would have been found out about a lot quicker - alternatively if they are all at it they would absorb the knowledge of how to do it better and apply it themselves.
My friend works in the electronics industry - he designs components and systems for car manufacturers - so yeah if he says its the tip of the iceberg I take it seriously.
Lets be honest VW is a big group and 100's of people would have worked on this software and its implementation... thousands would have known about its use through the supply chain / management / lawyers etc.
Its inconceivable that not one (probably many many more) of these people never went to work for another car company and they must have had the conversation as to if / how they do it here.
If no other car companies did it you can be sure as soon as they found out that they would have called the authorities themselves and this would have been found out about a lot quicker - alternatively if they are all at it they would absorb the knowledge of how to do it better and apply it themselves.
My friend works in the electronics industry - he designs components and systems for car manufacturers - so yeah if he says its the tip of the iceberg I take it seriously.
I think they've said it's 1.6 and 2.0 litre models, which I think is the vast majority. Basically all diesel Golfs, for example.Does anyone know if this effects a specific model or cars built in a certain time period?
Have a VW diesel myself
Cheers guys.
Funny enough i have 1.9 Golf.
Funny enough i have 1.9 Golf.
How does that work exactly with stocks? Does it mean that many people want to sell their Glencore stock?
Generally yes, people and large investors like hedge funds, investment banks, mutual funds, pension funds etc.
I knew VW had set aside funds for fines but had they for the recall? I'm unclear how a software fix actually fixes the car. Do they just run crappy now?
they will run just the same in regular use - the difference is when put on a rolling road they wont automatically go into a specific mode to cut emissions
No fecking way will they declare bankruptcy.
But do they generally lose trust in a company that quick?
its not just about trust though - your fund will be rated a certain risk and investors expect you to hold stocks that fit within their risk profile - obviously the VW risk is now much greater, others may have ethical guidelines on investment and perhaps they see the VW software as incompatible with their ethos.
More generally do you think if you took your money out of there and put it somewhere else you stand more chance of making money with a reduced risk.
Yes it can literally happen in a matter of minutes.
Here's another example - Lumber Liquidators, a lumber company that trades in the US, were exposed to have sold products that contained toxic formaldehyde earlier this year. The TV show 60 minutes had a lengthy report on it.
Look what happened to LL's stock the next day on 1 March, and look where it is today.
Here's another example - Lumber Liquidators, a lumber company that trades in the US, were exposed to have sold products that contained toxic formaldehyde earlier this year. The TV show 60 minutes had a lengthy report on it.
Look what happened to LL's stock the next day on 1 March, and look where it is today.
That's crazy.Yes it can literally happen in a matter of minutes.
Here's another example - Lumber Liquidators, a lumber company that trades in the US, were exposed to have sold products that contained toxic formaldehyde earlier this year. The TV show 60 minutes had a lengthy report on it.
Look what happened to LL's stock the next day on 1 March, and look where it is today.
I'm missing something here. During the test, the software made sure emissions were low and by doing so performance would be decreased. Unoticed because car is stationary. Drive off and the software brings performance back up. Is that correct? If that is correct, I'm lost how a software fix can keep emissions low to pass test and keep performance high. If it can, why didn't they do this from day 1?
Oddly enough I had just bought one of these products from LL about a week before this broke. I cancelled the order just before delivery.Yes it can literally happen in a matter of minutes.
Here's another example - Lumber Liquidators, a lumber company that trades in the US, were exposed to have sold products that contained toxic formaldehyde earlier this year. The TV show 60 minutes had a lengthy report on it.
Look what happened to LL's stock the next day on 1 March, and look where it is today.
If I understand it correctly, the software manipulates the emission data. It doesn't mean that the cars underperform now, they still perform as always but the actual emission is higher than what the software showed.
Right, so how is this a fix? If I take my VW Diesel to the local test station after this software fix I fail the test and I am no longer allowed to register the car to drive it.
Oh, I didn't mean it as a fix, just gave some extra info. Has anything been said about a software fix though?
Right, and there is a performance vs emissions tradeoff.