Wirecard Stock Price: WDI falls 66% after billions vanish, yet bankrupt Hertz suggest buyers may appear

  • Wirecard AG is trading below €36, down some 66% off its previous closing price of €104.50.
  • An auditor said he failed to find billions in missing cash.
  • The German payment firm may attract bargain-seekers amid these prices.

Wirecard AG, trading under ETR: WDI is in trouble. An auditor was unable to find billions in missing cash from the payment firm that became a hit among investors. Marcus Braun, the company's CEO, promised to clarify matters as soon as possible, and also tried to calm investors by saying:

It is currently unclear whether fraudulent transactions to the detriment of Wirecard AG have occurred

Investors in Wirecard have already been worrying as the firm postponed its 2019 financial statements over and over again. 

At current prices, Robinhood investors may find the stock attractive – or at least oversold. A fall of two-thirds makes the stock oversold on most charts. 

On the other hand, those who have been bearish on Wirecard may feel vindicated. Wolfgang Donie had set a forecast of €20, down from €80, suggesting the rout is far from over. The NordLB analyst is no less than an existential crisis. 

Returning to the previous argument, a more known company suffering an existential crisis – Hertz, which filed for Chapter 11 bankruptcy – anything is possible with stocks these days. The car rental company issued new shares alongside a warning they could be worthless – and they found buyers. 

Will that happen for WDI? 

WDI quote

Wirecard AG is trading at the lowest levels since 2016 and when it hovered above the €30 level.ETR: WDI hit a 52-week of €159 and neared €200 in its heyday in 2018. While such a surge is unlikely, it may find buyers at some point. 

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 extends gains as ADP NFP disappoints with only 167K

EUR/USD is trading above 1.1850, extending its gains after ADP's private-sector report badly misses expectations with an increase of only 167,000 jobs in July. The greenback had already been falling with yields.


XAU/USD bulls unstoppable, renews life-time highs near $2040

With ‘buy the dips’ emerging as the main underlying theme behind the gold price action so far this week, the bulls flex their muscles further to record fresh all-time highs near $2040.

Gold News

GBP/USD trades well above 1.31 amid dollar weakness

GBP/USD is advancing towards this month high at 1.3169, recovering as the dollar retreats. The UK government is under scrutiny for its management of the virus crisis. US Services PMIs are eyed. The ADP NFP missed with 167K.


ETH/BTC on retreat, BTC recovery gains traction

ETH/BTC has topped at $0.03528 on Tuesday and retreated to $0.03448 by the time of writing. The cross has lost about 1% since the start of the day. The RSI on a daily chart reversed to the downside, signaling that the price is ready for a correction from overbought territory.

Read more

WTI hits fresh two-week highs near $42.50 ahead of EIA data

WTI (futures on Nymex) extends its winning-streak into the third straight day on Wednesday, as the bulls challenge the July high of $42.51.

Oil News