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

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