One day, that was all that Volkswagen had, just one day of being on top of the world.
It all happened when economics’ basic laws of supply and demand showed up: Since there was so much less Volkswagen stock available, the price per share shot up!
A lot of stock holders who had sold their share tried to buy it back before Volkswagen rose it too high! This only made the stock price go even higher as the cycle continued.
The reason why there were so many stocks is because short-sellers had bought Volkswagen’s stocks sold theirs betting that it would go down and they could buy it back at a lower price. Since that wasn’t the case, everybody tried to buy a stock before it would rise up!
So next time you decide to go to the stock market, make sure you know your economics and make the right choices.