WireCard!!

limster

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Their price will rebound after they declare bankruptcy and launch a rights issue? :s13:
 

coolhead

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I don't recommend even a btfd. the events unfolding are very disturbing.
how is it even possible to screw up a simple company like a payment processing platform is beyond me. it's a very simple business model. Just earn the difference between interchange rates and merchant discount rates.

This is so fked up on many levels I can't even imagine. The relationship with all the heavyweight partners such as V/M, banking licenses and acquiring licenses around the world, existing loan agreements with creditors, existing customer(merchant) base....
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coolhead

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coolhead

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Best news ever for V, MA and PYPL.
no material impact to v,ma since these are international schemes but pypl can gain from it. In fact, if other payment processors don't take wirecard's space, then v/m will stand to lose revenues. v/m are not payment processors. adyen will stand to gain the most since it's also EU centric and broadening global coverage especially asian merchant acquiring region.

Posted from PCWX using Redmi K20 Pro
 

Shiny Things

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WireCard Dropped 60% on thursday, friday dropped another 50% so far!!!! what are your thoughts?

It's been common knowledge for at least five years now that Wirecard was dirty. The only surprising thing is that it took such a long time for it all to cave in.
 

lo3xlo2x

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It's been common knowledge for at least five years now that Wirecard was dirty. The only surprising thing is that it took such a long time for it all to cave in.

May I ask how did you obtain this information?

I was just about to invest before it imploded
 

atf0007

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I don’t think that’s correct. They’re missing $2B in cash.

Sometime back it was reported that this company was being investigated for irregularities... Singapore office involved. Once a company gets investigated, it should be a big red flag.
 

m@maboi

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2Bn in cash missing. Takes a great horseman to do it. Management shake up, German regulator breathing down their neck, Singapore management shakeup.

This company bound to fail. No checks whatsoever. They thought they r too big to fail.
 

Shiny Things

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May I ask how did you obtain this information?

I was just about to invest before it imploded

Dan McCrum at the Financial Times was all over the Wirecard story in 2015. It was public knowledge by then that Wirecard was doing funny stuff in its accounting for acquisitions.

I don’t think that’s correct. They’re missing $2B in cash.

Or, more to the point, the $2bn never existed. It’s not like they had $2bn floating around that got stolen; what actually happened was they magicked up $2bn of fake revenue, and people are finally asking “so where’s the cash?”.
 
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RedsYWNA

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Seems that the centre of the fraud is in SG itself. That said, I am tempted to take a small stake. Treat as gambling. LOL....

Business model itself is fine, just making money as a middleman. If I enter, it will probably be in these few days. But the risks are real.
 

Shiny Things

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Business model itself is fine, just making money as a middleman.

Nah mate it’s not. $2 billion (the amount of faked profit) is their entire profit since 2012—that is, once you strip out the fraud, Wirecard hasn’t turned a profit in nearly a decade. And they’re about to have their bank lines pulled. Buying WDI here is a sucker’s bet.
 

atf0007

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Seems that the centre of the fraud is in SG itself. That said, I am tempted to take a small stake. Treat as gambling. LOL....

Business model itself is fine, just making money as a middleman. If I enter, it will probably be in these few days. But the risks are real.

Nah mate it’s not. $2 billion (the amount of faked profit) is their entire profit since 2012—that is, once you strip out the fraud, Wirecard hasn’t turned a profit in nearly a decade. And they’re about to have their bank lines pulled. Buying WDI here is a sucker’s bet.

wah Shiny Things juzz saved you. You better chia kopi....
 
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