原文发表于美国时间2020-6-24

发生了什么事情？

看起来像是一部犯罪剧的剧情，坠落的德国支付科技巨头Wirecard的前CEO在星期一以欺诈罪被逮捕。

这意味着什么？

上周，那些长期反对Wirecard公司的投资者被证明是正确的。这家德国科技公司表示独立的会计师未能找到该公司所声称拥有的21亿美元现金，该公司的CEO迅速辞职。

Wirecard公司在周一承认其丢失的现金可能与HBO的剧集一样是虚构的。德国在星期二证实调查该公司近期离职的CEO。Wirecard公司的CEO被指欺诈，夸大了Wirecard的营收和现金余额，希望获得投资者的青睐。

时间会证明他是否一个人作出这些（欺诈），不过目前而言对公司高层的追责停止了。

为何值得关注？

对于市场而言：涨或跌。


Wirecard公司的股价自丑闻爆发后下跌了逾80%，但在星期二的股价却上涨了20%。

悲观投资者可能会称其为“死猫反弹”，并保持观望。不过，乐观的投资者可能会对Wirecard公司的市值在几天之内迅速从120亿美元跌至20亿美元感兴趣，因为跌去的市值远大于丢失的现金的数额，并且认为该公司前CEO的被捕意味着事情影响在逐渐降低。

Wirecard公司可能仍从事一个有利可图的业务，故而那些投资者可能会认为该公司的股价会升高。

更大的图景：现金已经消亡；电子现金才是王道

除了支付公司Wirecard外，PayPal和Square等公司也从实物现金到电子现金的转变中受益，特别是在发达国家。

现金转变的趋势可能会在冠状病毒疫情后加速发展，这可以解释为何未发生丑闻的PayPal和Square的股价均创下历史新高，以及为何英国的金融科技公司Checkout.com在本周融资1.5亿美元后的估值达到了55亿美元.

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这篇文章已被翻译成中文。原英文作者Finimize。如英文版本和中文版本之间有任何不一致，以英文版本为准。该文章中的分析仅为提供信息，不是也不应该被视为推销或招揽购买任何证券。文章中讨论的一般市场活动、行业或领域趋势、或其它基于广泛的经济或政治条件的内容，不应被解释为研究结果或投资建议。讨论中提及包括的特定证券、商品、货币、或其它产品均不构成IB推荐购买，出售或持有此类投资的建议。本材料不是也不意图针对个别客户的特定财务条件、投资目标或要求。在根据本材料采取行动之前，您应该考虑是否适合您的具体情况，并在必要时寻求专业建议。

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