The first day of official trading of the Porsche stock on the Frankfurt stock exchange had all investors hooked on. Trading on the Frankfurt Stock Exchange under the ticker symbol P911, Porsche gained 5% during the trading hours to €86.78 before closing at €82.50, in line with the final IPO price set for the luxury sports car maker. Volkswagen AG (VWAGY) (DE:VOW), which owns a majority stake in Porsche, saw its stock drop almost 11% to close at $17.05 despite its success in raising sufficient capital from the IPO listing.
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