What's wrong with me being a rich man?

Chapter 470 The Calamity of the Masses
On May 18, Guoshanfeng's short selling of the public was quite sudden.

First, French authorities froze funds; then, a Polish person inexplicably impersonated another; and now, sources have revealed that the European Securities and Markets Authority (ESMA) is considering coordinating with member states to launch a cross-border investigation into “market manipulation.”

Undoubtedly, the news from ESMA, though not explicitly naming names, is essentially aimed at Overmountain, and the efforts of the French AMF are also evident behind the scenes. This is interpreted as the investigation into Overmountain not ending abruptly but continuing.

Therefore, when a group of short sellers on Wall Street discussed Peak, they all believed that after this shorting of Renault, it would definitely be much more discreet in the face of regulatory scrutiny.

Now, the actions from the mountain peak are presented to us so suddenly and unexpectedly...

Everyone fell silent, followed by a rapid reading of the short-selling report on the mountain peak, their minds racing with thoughts.

First Renault, then Volkswagen—it was premeditated, a mad blunder.

As colleagues, Ackerman, Carl, and others had repeatedly reviewed the previous report on the mountain, and could almost recite its contents by heart. When they reviewed the latest report, they immediately noticed the most important issues.

Diesel vehicles!
It's a diesel truck again!
—Audi A3 TDI.

——Audi Q3 TDI.

—Audi A6 Avant TDI.

—Touareg TDI.

— Jetta TDI.

— Golf TDI.

Aside from the iconic proverb, the report on the mountain peaks still doesn't include any subjective opinions; it simply lists the Volkswagen models involved in emissions cheating. However, compared to the previous Renault model list which only took one page, this time the list of 14 models involved in the cheating requires two pages.

TDI is an abbreviation for turbocharged direct-injection diesel engine from the Volkswagen Group, and its repeated appearances in reports of over-the-peak engines are quite alarming.

Ackerman stared at the content displayed on his phone, then suddenly broke the silence by asking, "Jetta?"

Without any explanation, he brought up one of Volkswagen's 14 models.

Although Carl and Ackerman didn't get along, Carl reacted very quickly, almost instantly understanding Ackerman's thoughts, and said solemnly, "Sell more."

Those nearby, upon hearing Karl's words, then began to consider the potential problems the Volkswagen Group might face.

Where do they sell the most?
Based on Ackerman and Carl's positions, they are certainly paying attention to the situation in the US market regarding Volkswagen's suspected emissions fraud.

The Jetta is a very popular diesel model from the Volkswagen Group in the United States.

This presents a completely different situation from Renault. If such a best-selling model were to have serious emissions fraud issues, American agencies would certainly intervene and investigate. Unlike France's protection of Renault, or the foreseeable protection Germany would have of Volkswagen, the United States would certainly be happy to severely punish Volkswagen...

This is on the premise that Volkswagen actually falsified its emissions data.

This judgment requires confronting the world's most mysterious short-selling peak, the Renault incident which was recently confirmed to be fraudulent, and how it's such a coincidence that it's easily associated with diesel vehicles...

Of course, Guoshanfeng had the motive to take advantage of the situation and use false information to disrupt the market, but Ackerman and others believed without the slightest hesitation that Guoshanfeng had indeed grasped the possibility of widespread emissions problems with diesel vehicles.

No one on set cared about the original program or topics anymore; the shock led them to focus on the stock price.

The US and Europe have a time difference, and the time chosen by the peak is 2 PM on Wednesday afternoon in Germany, which is the normal trading time of the Frankfurt Stock Exchange. Volkswagen's stock will inevitably be affected immediately.

“It’s dropped seven points.” Quadir’s voice was somewhat unsteady, reflecting her current mood. “Seven percent, seven percent in five minutes, 123 billion euros… This is…”

Her voice trembled slightly: "This is Volkswagen, this is Peak Cruiser..."

Volkswagen is currently the world's most valuable automaker, and its peak was...

Before today, Quadir was willing to call the mountain peak one of the world's strongest short sellers, but at this moment he is willing to remove the last word and simply say that it is the world's strongest short seller.

The world's most valuable automaker clashed head-on with the world's most powerful short seller at the Frankfurt Stock Exchange, resulting in a bloody tragedy that shocked the world within five minutes!
This five-minute drop has already far exceeded Renault's highest possible decline!
Ackerman took a deep breath, staring at the results of the battle over the mountain peak, his temples throbbing with excitement. This was a scene that any short seller could only dream of!

After acquiring Porsche, Volkswagen gradually secured its position as the world's most valuable automaker. Even Ghosn's ambitious formation of three automotive alliances was merely an attempt to challenge Volkswagen...

Normally, top global companies like these wouldn't make the kind of big mistakes that short sellers could easily exploit...

Market issues, strategic issues, and future prospects are often matters of differing opinions, but emissions fraud is absolutely illegal!

This kind of illegality is the biggest negative factor ever!
Ackerman grew increasingly excited, his fingers trembling slightly. Looking at the astonished, shocked, and equally excited expressions of his colleagues, he sincerely said, "I was a little resentful of them shorting Vania before they crossed the mountain peak, but now they're shorting Renault and then Volkswagen, Fuck, are they trying to die?!"

Karl rubbed his scalp, trying to calm his nerves, and muttered, "Over the mountain, over the mountain... the most venomous snake, the strongest short seller, I, I really am..."

He leaned back and exclaimed, "I've never seen anything like this before! The masses are really courting death!!"

As the host watched these notorious short sellers unanimously praising another mysterious short seller, he considered the impact of the live broadcast and asked, "Will Volkswagen really commit emissions fraud? Is the 'Overshoot' strategy still correct this time? We'll have to verify the specifics."

Ackerman was aware of the host's concerns, but still immersed in shock and excitement, he didn't give a direct answer, saying instead, "That's Over Peak! I'm a fan of Over Peak now!"

As one of Wall Street's most renowned hedge fund managers, he suddenly noticed the camera and reluctantly pulled it back: "Of course, whether the problems pointed out by Guo Shanfeng exist still needs to be verified, but there is already one thing that does not need to be verified."

Ackerman said with a slight smile and a sigh of amazement, "This is already a bloodbath."

Reports of peaks need verification, but market sentiment does not.

The sharp drop in Volkswagen's stock price in a short period of time has brought down the Frankfurt Stock Exchange, and many car companies and listed companies in the supply chain are also repeating the mistakes of the Renault incident!
Another bloodbath!
No, it's an escalation of the bloodshed!
Under the camera's lens, Wolf King Karl wiped his phone screen, as if trying to see the content more clearly, and muttered, "Crossing the mountain has gone mad, the masses have gone mad, and I'm going mad too..."

However, just as Volkswagen's stock price fell by more than 10%, the latest news emerged that the Volkswagen Group had applied for a temporary suspension of trading. The reason was not to explain the emissions fraud issue, but rather that there were financial matters related to mergers and acquisitions that needed to be explained.

It was afternoon at the Frankfurt Stock Exchange, and such an application was clearly unusual, but Volkswagen's reasoning barely managed to stop the bleeding.

However, in just a short while, global media outlets, regardless of time zones, were already working overtime to put the news of the short-selling attack on the market on the front page. Online websites and social media accounts could update directly, while offline newspapers wrote articles and reserved more space to supplement the content that might appear in the coming days.

This is the status of the Volkswagen Group, its global standing. However, it may not want that status now.

The Volkswagen Group is a globally renowned benchmark of German engineering, and it is precisely because of this characteristic that many media outlets and journalists use the term "blitzkrieg" when reporting on breaking events.

—A lightning strike over the mountain peaks!

—A blitzkrieg was launched over the mountain peaks, and the Volkswagen Group became the target of the attack!

— Crossing the mountain peaks to kick off the second war in the automotive industry, a blitzkrieg to lock down Volkswagen!
—The world's most mysterious short seller strikes again, launching a blitzkrieg against the Volkswagen Group!

The Wall Street Journal updated its online report with Guo Shanfeng's complete short-selling report, and then jokingly remarked: "Two weeks later, Guo Shanfeng must have realized he hadn't sent a copy last time when checking his email, so he quickly sent it to him."

The Los Angeles Times succinctly posed the question: "Did Volkswagen do it too?"

Another prominent media outlet expressed its discontent from a different angle. Nielsen of The New York Times complained on Facebook: "Didn't Over Peak send us an email this time? No, that's not fair! We want emails too! Hey, Over Peak, you'll definitely see it, don't forget next time!"

There are established practices for short selling by overshooting peaks: they publish reports on their official website and also send them to well-known media outlets via email, ensuring the rapid dissemination of information through these two channels.

Just like this time, the official website crashed quickly, but the media were still happy to spread the report from the mysterious short seller.

Aside from the general surprise expressed by the public, the attitude of the French media was rather subtle.

Ronnie, editor-in-chief of Le Figaro, tweeted: "It's unclear whether Volkswagen models really have emissions issues. If they do, considering Volkswagen and Renault's technological lead, should we rethink the EU's emissions standards? Are their figures really reasonable?"

Volkswagen did it too, so Renault's emissions fraud is understandable!

His tweet quickly drew a lot of criticism. The standard is what it is; if you can't do it, don't fake it. Besides, how can other companies do it?

Ronnie scrolled through Twitter for a while before deleting his own post, but he also had some doubts. Could these "other companies" really do it? Did he need to rethink his approach...?

He was mindful of his identity and didn't dare to express such thoughts; however, many such questions have already appeared on Twitter.

Renault did it, Volkswagen did it, who else did it?

……

Volkswagen Group's response to the short-selling blitzkrieg was fragmented.

When CEO Martin received the urgent phone call in his office, he immediately saw the appearance of the mountain peak and read the report in fifteen seconds. The weight that had been hanging over him for so long finally lifted.

We've reached the mountain peak.

We've finally reached the summit!
The ghost hasn't left; it's still lingering around me!

Martin luxuriously read the short-selling report a second time, and a strange thought suddenly popped into his head: even overcoming obstacles can be overlooked; it wasn't just 14 models, but three more were missed...

He looked at the webpage, dialed the Frankfurt Stock Exchange's emergency number, and presented the reason for the temporary suspension that he had prepared beforehand—a legitimate financial matter.

Martin was still working hard even when he was terrified of the mountains!

After the emergency call ended, he convened an emergency meeting to discuss and study the current situation.

In contrast to Renault's reaction when it was targeted by short sellers, the Volkswagen Group appeared quite composed. Despite receiving numerous calls from the media, no one made any public statements.

"Martin, what do we do? What should we do now?" Director Leo asked the unusually calm CEO Martin.

"What can we do?" Martin repeated. "What can we do? The mountain is here. I, as CEO, will take over. I will take responsibility for Volkswagen's actions."

Silence fell over the small meeting room. Was this a proper response?
How can this not be considered a coping strategy?
Martin sat in the conference room and actually felt a little relaxed. He thought, "I'll face whatever comes my way. Renault is what it is now, and Volkswagen is already like this. Anyway, I didn't come here for nothing!"
He secretly used his savings to short Volkswagen, and although he had applied for a temporary suspension of trading, he made a huge profit in a short time.

Martin is certain he can get more, and Volkswagen's decline will definitely widen; a temporary trading halt won't stop the bleeding.

This move is risky, but the potential rewards are huge.

Martin intends to take on the responsibilities of Volkswagen and retire from the automotive industry, no longer getting involved in its affairs.

The silence in the meeting room couldn't last long; soon, phone calls began pouring in. The Volkswagen emissions scandal had far too many implications.

……

The short-selling of Volkswagen Group occurred at 8 PM in Shanghai.

Yu Xing was working overtime in a meeting to discuss the construction of the sales system for the Silicon Carbon Group in the second half of the year.

Then, as he held his teacup, he saw shock spread across his colleagues' faces as if it were a tangible thing, quickly infecting everyone and causing the meeting room to explode.

"Holy crap, Volkswagen is cheating on emissions too!!"

"Mr. Yu, Mr. Yu, shorting Volkswagen by going over the mountain peak, damn, that's awesome!"

"Huh? Isn't it Renault? And Volkswagen???"

Silicon Carbon Group is a peripheral company in the automotive industry, but its senior executives are all seasoned veterans who are well aware of Volkswagen's status and are therefore even more shocked by its fraud.

You are part of the public, how could you fabricate something?
This is none other than the world's most valuable car company!

Hearing the chaotic sounds and sensing everyone's disbelief, Yu Xing exclaimed in astonishment, "What? The masses... this..."

He was stunned for a long time, remaining silent for a long time before finally seeming to process the news, and then he sighed deeply: "A calamity for the public, a disaster for the industry!"

(End of this chapter)