Delivery Hero to take Wirecard spot on DAX despite never having reported a profit
Deutsche Boerse selects DAX members based on valuation and volume of shares traded rather than company fundamentals
20 August 2020 - 17:57
Frankfurt — Delivery Hero will replace defunct payments company Wirecard in Germany’s prestigious DAX benchmark on Monday, the index’s owner has announced.
Following an index-rule change in response to Wirecard’s scandalous collapse in June, the food-delivery company will take its place in the 30-member gauge ahead of the next quarterly review due on September 3. The change, implemented by DAX owner Deutsche Boerse, allows for insolvent companies to be removed from its indices with two trading days notice...
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