Hedge funds pocket $1.7 billion as Wirecard goes bust

Wirecard shares crashed to 2.5 euros on Thursday from 104.5 euros a week ago, before the company revealed a $2.1 billion hole in its accounts. Together, the 10 hedge funds have made hundreds of millions between the company announcing its mammoth accounting hole on June 18 and Thursday, when it applied for insolvency. London-based TCI has made a profit of 173.6 million euros, while Marshall Wace and Greenvale have made 146.5 million and 110.1 million, respectively, according to Reuters calculations. …read more

Source:: Yahoo Finance

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