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Operating profit came in at 5.464 billion euros ($5.90 billion) vs. 5.486 billion euros expected, a slight miss compared to estimates but a drop of 2.4% compared to the same period a year ago.
The stock of Volkswagen AG (OTCPK:VWAGY, 30-year Financials) is believed to be significantly overvalued, according to GuruFocus Value calculation.
Most of those stock gains were lost in 2022, as it became clear that Volkswagen was falling short on execution. The stock has continued to slide, and is down 14% so far this year.
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At the time, Volkswagen received a convertible note that converts to Rivian stock on Dec. 1. Volkswagen will pay another $1.32 billion this week, as part of the deal's closing.
Now, the automaker is on a mission to overhaul its costs to improve earnings by about $11 billion by 2026. Volkswagen’s brand chief Thomas Schaefer warned that productivity and efficiency had to ...
The stock of Volkswagen AG (OTCPK:VWAGY, 30-year Financials) gives every indication of being significantly overvalued, according to GuruFocus Value calculation.