Porsche Shares Jump in Blockbuster Market Debut
Volkswagen spun off the German carmaker on the Frankfurt Stock Exchange, where its stock began trading higher despite a broader decline in European markets.
Amid fears of recession, tumbling stock prices, and heightened market turmoil, the biggest market debut of the year is that of a carmaker whose vehicles can cost six digits.
Porsche, the 91-year-old German company behind iconic models like the 911, became the breakout star of the markets when it began trading on Thursday, in one of Europe’s largest initial public offerings ever.
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