Wirecard shares plunge after saying auditor can’t find billions of missing cash

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Could have and should have known, the writing has always been on the wall. In other words, if the auditor can’t find the money it isn’t there, which turns Wirecard from a successful cash-generating fintech to an unprofitable business overnight

StalinsSummerCamp

Never heard of them , what do they do ?

barsoapguy

Buy the dip

cN5L

Why would anyone buy stock from a company that didn’t get a clean audit report? I am an accountant, and man, we’d have lost our mind if we got anything close to a qualified opinion.

PopeJohnsonAgain

I sold my stocks at around 100€ with a 20% loss after the KMPG audit left some open questions. Taking the loss hurt at the time, but now I’m having a big smile on my face. I remember that my first instinct was to double-down as the stock had taken a sharp drop and seemed like a real bargain with analysts still setting targets around 180€ and FT stories seeming like a weird crusade without foundation. But then I thought, why take any risk on this and sold it.

MarcFrisch47