Wirecard Stock Price: Recovery stalled ahead of €10.00


  • German fintech Wirecard extended the rebound to the €10.00 area.
  • WDI trims gains and recedes to the €5.00 region on Tuesday.

After bottoming out in the vicinity of the €1.00 level at the end of last week, shares of Munich-based Wirecard (WDI) have prolonged the bounce to the proximity of the psychological €10.00 yardstick earlier on Tuesday, just to lose some impetus soon afterwards.

Sellers appear to be clustered around the €10.00 mark so far, something that seems quite logical if we consider that prices increased nearly 10-fold in just a couple of sessions.

Following the fraud scandal involving around €2 billion, share prices of Wirecard literally melted since mid-June from the €105.00 neighbourhood to levels just above the €1.00 area.

The ongoing rebound could be exclusively due to technical drivers (extremely oversold conditions), although the apparent faster-than-expected return to normality in many economies could be also lending some extra support, hoping for a potential solution for the payments-company.

Latest news around Wirecard cited the company is also facing further investigations in Singapore by the MAS and the police regarding the company’s activities in Asia.

It is worth recalling that Wirecard became the first-ever DAX company to file for insolvency and that the financial scandal expose loans of around €1,3 billion expiring on June 30 and July 1st. Former WDI CEO Marcus Braun was released from jail on bail last week, while authorities from the Deutsche Bank said Marcus Braun will be removed from the lender’s advisory panel.

WDI Stock Quote

At the moment WDI is gaining 73.50% at €5.66 and a break above €19.80 (weekly high Jun.24) would expose €84.31 (55-day SMA) and then €104.50 (monthly high Jun.17). On the other hand, the immediate support is located at the all-time low at €1.76 (June 26).

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD bounces after upbeat COVID-19 cure news

EUR/USD is trading above 1.13, rebounding from the lows. Gilead reported that its drug Remdesevir substantially reduces mortality among COVID-19 patients. The news boosted stocks and weighed on the dollar. US coronavirus statistics are due out.

EUR/USD News

GBP/USD recaptures 1.26 as the market mood improves

GBP/USD is trading above 1.26 as the market mood improves and the safe-haven dollar retreats. Investors are shrugging off Brexit concerns and focusing on hopes to cure coronavirus. US COVID-19 statistics are due out.

GBP/USD News

XAU/USD consolidates daily gains above $1,800

After advancing to its highest level since September of 2011 at $1,818 on Wednesday, the XAU/USD pair staged a correction and briefly dropped below $1,800 on Thursday.

Gold News

Cryptocurrencies: War for dominance hit the bedrock of the market

Bitcoin tried to regain market share and activated sales in the Altcoin segment. BTC/USD, ETH/USD and XRP/USD are looking for supports and a rebound to push them to new elative highs. The current compression on the XRP/USD chart could trigger an exploding movement.

Read more

WTI once again breaks $40 per barrel after trading lower in early EU trade

There has been quite the bounce in WTI since the EU session after some strong selling pressure during Thursday and overnight. Once again on Friday's session, the price has taken the USD 40 per barrel handle. 

Oil News

Forex MAJORS

Cryptocurrencies

Signatures