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posted by Jason Kottke  ·  gift link

Volkswagen = world’s largest company

Volkswagen was briefly the world’s largest company in terms of market cap today.

Volkswagen briefly became the world’s largest company by market capitalisation on Tuesday as panic-buying by hedge funds desperate to cover losses caused its value to shoot up by up to €150bn.

Porsche revealed that it owned 74% of VW instead of the previously assumed 35%…which caused panicked buying by hedge funds. (via mr)