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Now falling like a stone! >£500m now knocked off today alone; at some point someone must see some value in a cash-generative, zero debt fintech business growing revenues at c20% PA! Anyone would think that the company is insolvent!

Fall today looks like coming from the below

https://www.businesswire.com/news/home/20260608338447/en/Securities-Fraud-Investigation-Into-Wise-Group-plc-WSE-Announced-Shareholders-Who-Lost-Money-Urged-to-Contact-The-Law-Offices-of-Frank-R.-Cruz

I can't imagine that more than 5% of the company was bought in the US between 11 May and 1 June, and even if each suffered a 10% loss , that would be less than £50m total loss. 4% fall today (or c£320m) seems disproportionate. Main issue seems to be a loss of confidence at the moment. Does not help that the annual results won't be until 30 June. Need some positive vibes to get this back on track. Likewise, I can't see any bigger issues with the underlying business.

Do we think that we have reached the low-point for the share price, or just the continuance of a downward trend? At one point today we are down 32% from the US listing, which is already a heavy fall.

One of the key drivers to this business is just how big the market is in terms of FX volume - even if MC take a percentage, there is still plenty for WISE; it is also just a trial for MC, and won't be cheap for them to set up on a global level to match WISE.

Following the last trading update on 13th April WISE price hit 1026. At that stage the Tech 100 was 25,000; today it is 29,000, and WISE is 940. WISE feels like a diamond covered knife; if you catch it right, you could do very well, but given the declines this week needs some courage.

Just a shame that management failed to sell their company during the presentation on Monday; can't think of many top executives which could drive a 15% decline in a share price when supposedly the message is a positive one!