Wirecard reaches 200% on the stock market due to the interest of the competition

Investment funds have also shown interest in the shares of the financial services company

The share price of the German fintech Wirecard has reversed the trend of the last two weeks and has registered an increase of up to 200% on the Frankfurt Stock Exchange due to the possible interest of other competing companies and investment funds.

On Friday, Wirecard shares closed at a price of 1.28 euros, which meant a collapse of almost 99% since June 17, a day before it recognized a accounting hole of 1.9 billion euros.

However, on Tuesday they have risen by 195%, to 3.85 euros after the German newspaper Frankfurter Allgemeine Zeitung published this Monday that Wirecard could be acquired by other companies in the payments sector or by investment funds.

Among those interested, according to the newspaper, is the French payment firm Worldline, which closed the purchase of the company Ingenico several months ago.

Despite the initial bullish streak of the share price in the German market, the rebound has lost strength towards the middle session, reaching 3.02 euros, which is equivalent to a rise of 135.8%.

Source: dpa

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