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Disgraced German payment system of Wirecard still remained loyal to investors, preserving open positions on its stock, says CNBC. Most of them are hedge funds, counting on the further decrease in quotations.
Wirecard problems began in June when the German regulator BaFin and Munich prosecutors discovered fraud in the financial statements of the company. On the balance was missing $ 2.1 billion.
Chapter Wirecard Marcus brown was a criminal case of fraud. Later the company was forced to acknowledge the disappearance of funds. From corporate statements implied that their return is unlikely. This field Wirecard, filed a lawsuit on bankruptcy.
The stock value is repeatedly decreased from 104,5 to 1.2 euros per share. However, the expected continuing fall until the zero mark has not yet happened. Analysts attribute this to the fact that some investors retain interest in the securities of Wirecard. Mostly hedge funds are playing in reducing the cost.
Also, some investors bought shares after the announcement by the leadership of Wirecard about the interest some of its assets, which allowed to support demand and contributed to a small short-term recovery rates.
One of the assets that the company hopes to sell, goodwill, or business reputation. However, financial experts point out that in the case of a company actually ceased operations, it has no value and is unlikely to attract the interest of buyers. However, Wirecard expects to repay the debt to creditors, estimated at four billion euros, due to the sale of assets.
Video, photo All from Russia.