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Wirecard (OTCPK:WCAGY), a prominent German fintech, has been in the news since it acknowledged alleged fraud which led to an extreme drop in share price. This alleged fraud included faking everything from revenues, to net profits, to cash flow, to cash levels.
Incredibly, WDI stock performed well for many years, even though alleged fraud had long been suspected by short sellers. Analysts, authorities and everyone in between believed the growth and paid handsomely for it. Auditors believed it to, which is rather more unbelievable. The stock did well in spite of the suspicion