Wirecard increase?

The money wasn’t ever there, it was a complete fabrication.

Thinking like a business owner that handles payments, why would you continue to use Wirecard? Surely the number one rule of someone handling your businesses money is that they aren’t crooks?

Now think of someone using the bank? Sounds like these peeps are about to go bankrupt, they’ve filed for insolvency…would you keep your money in there?

I really don’t see a single case for Wirecard to continue. It’s pure speculation on this point. Noone is trading on fundamentals anymore.

I never mentioned fundamentals I’m saying in my eyes what they going to do just close down everyone goes home. In my opinion I think they will stay around just not as good as they use to be for a while, but could be wrong

Look I don’t want to lecture you, but saying what you’ve said above, surely you need to be modelling what kind of ‘good’ they can get back to?

Remove all free cash, call in 2bn of loans - sell off every asset possible to pay off the debts (due this week). Sack 9/10ths of the staff to get to a sustainable payroll.

Whatever value is left is what Wirecard is worth.

If you want to save time it’s not much…not much at all.

:skull_and_crossbones: :cat: :arrow_up:

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I am surprised to see this recovery in the stock considering there is yet to be an actual finalized report on the corrections of past earnings and actual profits.

Over 5 years ago I worked for a major retailer group that owns over 30 major brands world wide, I had to do a complete overhaul of an ancient payment processing system already utilizing Wirecard.

Shortly after analyzing and re-implementing Wirecards API I was begging the company to ditch Wirecard after discovering numerous bugs, a total lack of technological advancement in REST API communication compared to competitors and a shocking, unacceptable 48Hr response/acknowledgement time to tickets on payment gateway outages.

The company directors not convinced with by my reasons to ditch Wirecard but management was, I backed those reasons up with the many negative Wirecard reviews I could find on the web and the gold was finding Ex and even active German Wirecard Employees leaving negative employee reviews on Glass Door at that time and I quote “Internal Disputes”, “Poor Management”, “Poor communication between departments” translated from German reviews.

I don’t know what Wirecard’s API or Support is like 5 years later but I do know just over a year ago the consumer in question did abandon an unknown portion of Wirecard’s services in favor of Stripe.com

Unless Wirecard can pull a rabbit out of its none wizardry hat, there is a chance retailers will take this scare as an excuse to switch to better payment gateway providers.

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Unless I’m mistaken what we are seeing today isn’t a recovery it’s just day/swing traders having some fun with retail investors. I don’t think anyones buying thinking it’s going to recover or planning to hold.

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As @Donald_Duck mentioned - there is not much value in them at all.

When shares fall 98% there will be spikes due to day traders / speculation etc. However remember this is still down 96% in 1 year! A spike that doesn’t even bring it to the price of last Thursday doesn’t warrant anything.

Be careful @revelcsi1iicidem - there are a number of announcements to come, each one will bring more volatility and ultimately the end of Wirecard.

Note that parts of it may well be acquired / bought out by other companies but I highly doubt there will be any money, or anyone willing to give them money to keep on operating.

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Money left on the table: a traders delight, missed opportunity but then again I’m a long term investor
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long term I truly believe its gonna go to €35-50 with a huge help aka bailout from Germany

Madness to even suggest That the Germans would bailout a fraudulent company.

This one has to die. To set a precedent.

If the German government do intervene they’ll wipe shareholders out.

One of the reason for the increase is “short squeeze”

Will all be about pride bailing it out

up 13% since market closing

I think the Germans are incredibly embarrassed by this.

One of their top law/auditing firms has now missed NMC Health, Luckin Coffee & Wirecard fraudulent behaviours.

BaFin the regulatory watchdog also filed criminal precedings against a couple of whistleblowers that leaked the original missing money story.

They’ll want this company to die fast, needs to be swept away, looks terrible. Will never be let survive.

The TPA business in question is still under review. The newly appointed CEO of Wirecard AG, James H. Freis, Jr., took a new approach to investigating the known allegations immediately upon taking office. Among other measures, a number of new advisors were commissioned to ensure neutrality and, in particular, independence from the former Management Board members of Wirecard AG. The clarification efforts will, of course, continue even after the filing of the application for the opening of insolvency proceedings.

Bailout???

“It is very important to us that the business is saved and a German company can continue to run it,” said Andreas Laemmel, the lead lawmaker for economic affairs in Merkel’s Christian Democratic causcus, told Bloomberg. “But Wirecard’s name cannot persist, it’s burned.”

Currently sitting at €7.05 pre market :golfing_man:

The shedding of Wirecard’s customer base already started… I am sure more will follow in relation to my previous post about pre-existing gripes with the company.
Programmers in many companies have been begging their management to move away from Wirecard for years in developer discussion boards I have read through in the past, this incident will bring Managers decisions inline with programmers desire to ditch Wirecard.

Card consolidation app Curve, has been working overtime at the weekend to migrate away from Wirecard and return to business-as-usual.

In a statement on its Website, the firm says: “We began our transition away from Wirecard a few months back and we are moving furiously down the path to complete this migration. We are hoping to be fully operational soon.”

they’ve been transitioning a move pre exposure of the sh#t storm. If they’d left without this coming out would it have affected the company in a drastic way? I dont believe so. New management is working on restructuring and fixing the mess its now in. It is just my opinion and its not financial advise whatsoever. I am in

Exactly, there are pre-existing reasons why companies wanted to move away from Wirecard and many already started migration away, some already did migrate away prior to this scandal.
Those who haven’t already moved because of stubborn management are likely now see a change of opinion towards ditching Wirecard.

That is the point I am making, Wirecard was loosing customers in the years prior to this year.

EDIT: Revolut also started migration away from Wirecard in 2019, this recent incident forced them to move all remaining services.

Dead cats always bounce

But they are still dead.

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@Cashurkash where are you getting pre market values from?