Price jump in the Grenke share: The company from Baden-Banden presented new information on liquidity on Monday – one of the positions that Fraser Perrings Viceroy had recently attacked in a report. Grenke, whose liquidity should primarily consist of bank balances, especially at the Bundesbank. as a result, commissioned its own auditor (!) KPMG to carry out an audit. Now there are results; “In detail, KPMG received bank confirmations for bank balances for 98.5 percent as of June 30, 2020 (1.06 billion euros) and for 98.6 percent of bank balances as of September 15, 2020 (0.96 billion euros). Due to the international postal dispatch, the outstanding bank confirmations are expected in mid-October 2020 ”, the southern Germans announced in the afternoon. This means that the means of payment are occupied, says Grenke.
On the stock exchange, this causes the price of the deeply fallen Grenke share to jump. Over the course of the day, the peak reached 39.40 euros; the MDAX is currently trading at 36.78 euros, up around 15 percent.
The price increase has a big downer: Once again, Grenke’s share price fails on the technical chart hurdle around the 40 euro mark. We had already reported several times on the importance of this technical chart signal zone for the Grenke share. “The zone at 39.20 / 40.50 euros continues to play the key role I just outlined as resistance to the MDAX value. If a buy signal succeeds here, there could be a recovery rally, ”the analyzes said. It stays that way – the 30.50 euros and thus the upper end of this signal zone was the corona crash low of the Grenke share.
However, liquidity was a factor in that anyway Viceroy Grenke Report seemed poorly researched and has already been questioned by observers. By contrast, Viceroy’s criticism of the Grenke’s franchise system has a much better basis – we reported.