WCAGY - Wirecard's Fair Value Must Be Reduced After It Lost The Trust Of Its Investors
Introduction
After a long period of waiting, Wirecard published KPMG's final report on the review of Wirecard's (WRCDF; WCAGY) balance sheets. Wirecard commissioned the investigation after the allegations of the Financial Times ("FT"). After the publication, something interesting happened. Wirecard has published on its webpage the report with the following words:
No incriminating evidence was found for the publicly raised accusations of balance sheet manipulation.
So, this is one perspective. Let's take a look at how the market perceived the KPMG report:
Wirecard has lost almost a third of its market value