VW is the world’s biggest firm?

Bizarre stock market activity has made Volkswagen briefly the world’s biggest company by market value on Tuesday according to reports from the BBC.
VW shares topped out at 1,005 euros, which made the company worth 296bn euros ($370bn; £237bn), this was well over Exxon Mobil’s $343bn value, which was the most valuable company in the world until these turn of events.
The panic buying of the company was helped by Porsche as the luxury German brand had bought more shares in VW at the weekend just past.
Porsche announced that it owned, or had options to buy, more than 74% of Volkswagen’s shares. This means that VW’s home state of Lower Saxony controls 20% of the shares, leaving just over 5% available on the market.
This now means that Porsche control VW.
In afternoon trading (yesterday), VW shares had fallen back to 686 euros, up 32%, following Monday’s rise of 146.6%.
Simon McBride