Wirecard's future in doubt

So Wirecard has lost 70% of it’s value, which considering it announced $2.1 billion of missing money isn’t surprising, its going to have a knock on effect if it survives, with companies leaving it

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I think Tymit use Wirecard.

You’ll have to excuse my ignorance because I genuinely don’t know, but who does Starling Bank use for its payment processor?

Lots use Wirecard in the UK.

Dozens is another one.

Starling use GPS.

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This could be a very good time to buy into Wirecard if they fire their CFO and sort this out, it’s discounted significantly

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That could be a big if though. Wasn’t there a leak late last year about Wirecard doing some very dodgy accounting in Dubai or something, to inflate sales and profits?

Looks like the problems started in 2018

Down 20%+ in 30mins this morning…

Ouch make that 40% down…

im liking this a lot, im gonna buy in super cheap :slight_smile: low risk, potentially high reward

I would have thought it would be a target for a takeover now?

How you got in at the right time
I’m a virtual £8k up from wirecard this morning

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Presumably you’re not up 8k anymore haha

I’m going to buy in around now, it’s 25€ per share atm, just waiting for my ISA transfer to complete :slight_smile:

Yep, I sold when I was 8k up

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I wouldn’t call chasing companies that have fucked up low risk. Potentially high reward, potentially all your money gone.

You could make a lot of money, but you either need to follow what’s going on and read the charts, or get lucky. If you are new to trading I wouldn’t advise it, just take profits when you can and don’t get greedy. Good luck :man_shrugging:

For me it’s almost in the same category as Hertz or Luckin Coffee. Playing the pump and dump game, but knowing both will probably go pop in near future.

Wirecard may ride it out, but its not got a great history like this…

I personally value Wirecard pretty highly based on their clients alone

I don’t see them all running away or even having the resources to do that in the next 1-2 years; means Wirecard sorts out this little blip, will jump back up and then sell. call it a week

I’m personally going to keep it balanced in my portfolio, although I’m going to adjust my target weighting

What advice is there around share dealing platforms and is there any immediate first step advice from active investors, please?

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Past performance is not a reliable indicator of future returns :joy:

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Yep - got that one. :smirk:

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My current platform is Trading 212 , and using TradingView for better charts.

If you or anyone wanted a referral to get a free share worth up to £100 feel free to PM
:wink:

Work out your risk and how involved you want to be.

Picking ETFs is a good way if you only care about long term and not really wanting to follow specific stocks. Lower risk, but lower returns.

Picking specific stocks, you could also pick the five-ten you think will still be ace in 10-20 years like Apple, Amazon, Microsoft, MasterCard etc

If you wanted more involvement look at those well known that took a hit with Covid19, but recovering or will be doing well in the next year to make fairly quick returns.

And if you want to play with fire, go for those Covid19 stocks like biotech and heat scanning etc. If you know what you’re doing you can take a lot of money off new Robinhood traders jumping on stocks from FOMO without doing any DD. If you see RH getting stuck in it’s usually time to exit.
https://www.robintrack.net/leaderboard

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This is just pure gambling, investing in a company that we know has been a victim of fraud and has no audited accounts. There’s no way to know how much money has been stolen, what assets they have and if they can keep trading.

No-one can say if the shares are going to crash or shoot up, but it’s a safe bet to say they won’t stay the same value! By all means invest and play, but don’t invest more than you’d put on a roulette wheel.

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So Wirecard now admit the 1.9bn doesn’t exist. That basically means they haven’t made any profit in years.

If Wirecard are forced to close this week, whose cards will stop working here? Curve has its cards using them for one.