Buying into fraud – german retail investors and the Wirecard scandal
- ON JUNE 18TH, WIRECARD’S SHARE PRICE PLUMMETED BY MORE THAN 60% FOLLOWING THE FIRM’S ADMISSION OF BEING SUBJECT TO “ENORMOUS FRAUD” AND BILLIONS OF EUROS MISSING. THIS REPORT DOCUMENTS GERMAN RETAIL INVESTORS’ RESPONSE AND FINDS THAT THE POPULARITY OF WIRECARD AMONG RETAIL INVESTORS LED TO SUBSTANTIAL LOSSES IN THEIR PORTFOLIOS. THESE LOSSES WERE EXACERBATED BY STRONG BUYING SENTIMENT AFTER THE ANNOUNCEMENT. THE FAILING STOCK WAS PURCHASED BY INVESTORS ALREADY ENGAGED IN IT AS WELL AS NON-EXPOSED CUSTOMERS.
| Author: | Konstantin Bräuer, Andreas HackethalORCiDGND, Guido Lenz, Thomas Pauls |
|---|---|
| URN: | urn:nbn:de:hebis:30:3-576430 |
| ISSN: | 1866-1238 |
| ISSN: | 2700-2241 |
| Parent Title (German): | Efl insights : an elf - the Data Science Institute publication |
| Publisher: | E-Finance Lab e.V. |
| Place of publication: | Frankfurt am Main |
| Document Type: | Article |
| Language: | English |
| Year of Completion: | 2021 |
| Year of first Publication: | 2021 |
| Publishing Institution: | Universitätsbibliothek Johann Christian Senckenberg |
| Creating Corporation: | E-Finance Lab <Frankfurt, Main> |
| Release Date: | 2021/01/22 |
| Volume: | 2021 |
| Issue: | 1 |
| Page Number: | 2 |
| First Page: | 4 |
| Last Page: | 5 |
| HeBIS-PPN: | 477066747 |
| Institutes: | Angeschlossene und kooperierende Institutionen / E-Finance Lab e.V. |
| Dewey Decimal Classification: | 3 Sozialwissenschaften / 33 Wirtschaft / 330 Wirtschaft |
| Sammlungen: | Universitätspublikationen |
| Licence (German): |  Deutsches Urheberrecht |
