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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.
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.
Here's why the stock may be a better buy today than before the Volkswagen announcement. ... how it could help Rivian, and if it is too late to buy the stock. Volkswagen investment.
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On 23 September, the stock quickly fell 10.5 percent, dropping below €100 to a record 4-year low before regaining some lost ground. [368] [369] Share prices of other German automakers were also affected, with BMW down 4.9 percent and Daimler down 5.8%. [370] A year later Volkswagen stock was down by 30 percent. [371]
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.
Volkswagen is playing white knight to Rivian. Is $5 billion in new cash enough to turn Rivian stock into a buy? Will Volkswagen News Drive Rivian Stock to $20? 1 Wall Street Analyst Thinks So.
Korus said that rival Tesla Inc’s (NASDAQ: TSLA) goal for 2030 of 3 terawatt-hours of annual production is 12.5 times more than Volkswagen’s number. Why It Matters: “In an exponential world ...