by stocksncocks
Ok Guys, I`ll keep this short, since its all happening so fast right now.
Wirecard committed accounting fraud. They were not able to provide an autority approved balance sheet by the deadline tomorrow. This will allow all their creditors to ask back for theyr loans. Outstanding loans are 2 Billion, which Wirecard does not have. This will likely cause them to default.
The biggest creditors are Commerzbank and Deutsche. These Idiots took stocks instead of bonds as security. The Wirecard stock went down 60% today. Commerzbank -8% and Deutsche -3% as of now.
This event is big enough to send shockwaves through the worldwide financial sector. Just like Bear Stearns did back in 2008. Short Commerzbank. Short Deutsche. Short HSBC tomorrow. Short every fucking Bank on the Planet next week. Shit is about to hit the fan.
Edit:
Too many retards have called me an idiot for shorting wirecard right now. I AM NOT SHORTING WIRECARD! It could go single digits tomorrow. It could moon on Bancruptcy news. Short Commerzbank and Deutsche instead. Or in autist language:
$DB 6/26 9p
$DB 7/17 7p
If you can trade on eurex:
$CBK 7/17 3.5p
The Commerzbank play is way juicier.
Disclaimer: This information is only for educational purposes. Do not make any investment decisions based on the information in this article. Do you own due diligence.