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Wirecard soars as business activities continue

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Wirecard AG shares soared higher Monday after the company said Saturday that its business activities are continuing despite its having filed for insolvency in a court in Munich, Germany. At 0820 GMT, Wirecard shares traded 170% higher at EUR3.45, although shares are down 97% in the year to date. The German fintech company said the decision of whether to open insolvency proceedings is still under review, adding that a provisional insolvency administrator should be appointed in due course.

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