Wirecard share plunges to the bottom - Wirecard share plunges to the bottom
Published on: June 25, 2020 / Update from: June 28, 2020 - Author: Konrad Wolfenstein
Wirecard shares plummet – @shutterstock | Rico Markus
There is a 1.9 billion euro hole in Wirecard's balance sheet - money that apparently never existed. Too much for the payment service provider, who has now filed for insolvency. The DAX company's shares, which were already badly hit, then plummeted, as a look at the graphic shows. This means that an accounting scandal that has been simmering for a long time ends in catastrophe. Wirecard has had to postpone its balance sheet submission several times because the auditors refused to certify it due to inconsistencies.
There is a 1.9 billion euro hole in Wirecard's balance sheet – money that obviously never existed. Too much for the payment service provider, which has now filed for insolvency. As a result, the DAX company's already severely battered share price plunged into the bottomless pit, as a glance at the chart shows. Thus, a balance sheet scandal that had been smoldering for some time ended in disaster. Wirecard has already had to postpone the presentation of its balance sheet several times before because the auditors refused to issue an auditor's certificate due to inconsistencies.
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