Why Volkswagen (VLKAY) Stock Closed Lower Today

NEW YORK (TheStreet) -- Shares of Volkswagen (VLKAY)  closed down 0.59% to $45.15 after the company's global works council said it's backing renewed efforts by the United Auto Workers in the U.S. to represent workers at the automaker's Tennessee plant, Reuters reports.

The UAW lost an organizing vote in February at the Chattanooga plant, but it said last month it had nearly enough members in its newly formed local for the automaker to recognize it as exclusive bargaining agent for the plant, Reuters said.

VLKAY Chart VLKAY data by YCharts

EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he and Stephanie Link think could be potentially HUGE winners. Click here to see the holdings for FREE

 

If you liked this article you might like

Goldman Sees 'High Probability' of Market Correction: LIVE MARKETS BLOG

Goldman Sees 'High Probability' of Market Correction: LIVE MARKETS BLOG

Worried About the Weak Dollar? Look at These Euro-Exposed Stocks

Worried About the Weak Dollar? Look at These Euro-Exposed Stocks

U.S. Stock Futures Turn Lower, Fall Off Record-Setting Pace

U.S. Stock Futures Turn Lower, Fall Off Record-Setting Pace

Forget Tesla, Volkswagen Is the Automaker Stock I Love

Forget Tesla, Volkswagen Is the Automaker Stock I Love

No Thanks Ford and GM, I'll Drive Myself in a Lamborghini Aventador

No Thanks Ford and GM, I'll Drive Myself in a Lamborghini Aventador