9:42 AM · 25 June 2020

Wirecard applies for insolvency!

The Wirecard (WDI.DE) scandal evolves at the warp speed. Just few days ago the company said it was missing 1.9 billion euro and today it informed about opening insolvency procedures. The stock tumbled some 90% over the past few trading sessions. The German blue-chip company has only a minor weight in the DAX index and DE30 is driven more by COVID news. After plunging below 12000 points at the open the German index recovers some ground and trades around 12120 points.

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