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Infographic: Wirecard Market Value Collapses 10.67 Billion Euros, Despite Just 1.9 Billion Euros Missing From Balance Sheet
- Market losses exceed funds missing from balance sheet by 462%
- Second-largest ever daily loss in DAX history
- Shortsellers earned 2.7 billion euros from Thursday to Friday alone
- Sharp rise in Google searches for Wirecard, as well as for rivals Adyen
Within a few days, Wirecard lost around 10.67 billion euros in market value. This exceeds the missing 1.9 billion euros many times over, by 462% to be precise, as shown in a new infographic from Kryptoszene.de.
On 18th June, Wirecard shares were still trading at around 100 euros. However today the share price stands at 14.65 euros. This is a price slide of historic proportions: within a single day, Wirecard shares lost 61.8% in value, marking the second-largest daily loss in the history of the DAX, exceeded only by Hypo Real Estate.
Meanwhile, the infographics show that Wirecard’s search volume on Google rose by up to 426%. However, the Wirecard scandal has also affected demand for its rivals, with the relative search volume for payment service provider Adyen also increasing by around 300%.
Adyen is not alone in profiting from the Aschheim-based company’s crisis. Above all hedge funds that gambled on falling share prices have made significant profits. As the infographics show, short sellers could have generated book profits of 2.7 billion euros on Thursday and Friday alone.
“Anyone who compares the missing balance sheet total with the loss of market value could draw the initial conclusion that the market is overreacting,” observes Kryptoszene analyst Raphael Lulay. “This may however require further thought. The loss of confidence could prove far more serious, and will only manifest itself in concrete figures in the medium term”.
The full story with the infographic, facts and more statistics:
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