Price explosion due to Reddit-like practices: ‘investors are swapping Tesla shares for Volkswagen in large numbers’

According to the authoritative German newspaper Der Spiegel, small investors praise the strategy of the VW Group on internet forums. As a result, the price development of the VW share currently only has one direction: upwards. A month ago, a share cost only 170 euros, the price is now almost at 240.

According to professional investors, Volkswagen’s ambitious sales targets for electric cars have caught the attention of small investors in the US. On forums such as Stocktwits and ‘Wall Street Bets’ on internet platform Reddit, VW is tipped as the new Tesla, according to Der Spiegel.

The result, according to the news magazine, is that Tesla shares are exchanged for VW shares. Yesterday the exchange rate rose by almost 15 percent to the highest point in 12.5 years: 353 euros. This amounts to an increase of fifty percent in the past five days and thus the strongest increase since the autumn of 2008.

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