Wirecard’s Shares Are Still in Demand Despite Insolvency

(Bloomberg) — Wirecard AG, one of Europe’s largest fintech firms as recently as two weeks ago, collapsed in an accounting scandal that’s pushed the company to file for insolvency. So why is it the best performer in Germany’s benchmark DAX Index this week?On Friday the stock was down 99% for the year. In the two trading sessions since Friday’s low, shares in the scandal-ridden payments provider have risen more than fourfold, with more than 36 million shares changing hands in each session — more than 10 times the past year’s average. It’s an echo of the bizarre trading this month …read more

Source:: Yahoo Finance