Yes, you read that headline right. German analysts are trying to figure out who in the world is buying so much stock in Volkswagen. As if Kerkorian doesn't have enough to do with trying to get on GM's board of directors and all, the analysts are wagering that the entity that has been driving up VW's stock is none other than the Tracinda Corporation. Volkswagen's stock closed at the highest level it has been at in three years yesterday.
Kerkorian, who we all know has a history of buying stock in troubled companies, may have noticed Volkswagen's proposed layoffs, ailing SEAT division, and underperforming product lines and is making his move.
The other hypothesis of the German analysts? Arab oil money. That's not a bad idea — in fact, while we're speculating, maybe Arab oil money is also behind GM's reliance on big SUVs and trucks for sales?