FRANKFURT (dpa-AFX) - Black day for Siemens Energy. As the problems in the wind energy division do not abate, company CEO Christian Bruch had to pull the ripcord and withdraw the profit forecast that was only lowered in May.

Horrible news for shareholders: many investors threw their shares on the market - after a 36 percent discount in the first minutes of trading, the stock could hardly recover the entire day. On the contrary. In the end, the share price fell by just over 37 percent. This puts the stock in tenth place on the list of the biggest daily losers on the Dax.

The ranking is dominated by the payment processor Wirecard, which collapsed in the summer of 2020. The scandal company from Bavaria occupies places two, three, four and seven. However, the front-runner is still Hypo Real Estate (HRE), which was nationalized during the financial crisis. The now dissolved financier of commercial real estate is represented twice in the top ten.

1) Hypo Real Estate -73.9% on 29.09.2008 - Reason: State rescue package due to liquidity bottlenecks in the financial crisis. The bank has since been wound up. The state has assumed the risks worth billions, and the operating business is largely being continued by Deutsche Pfandbriefbank PBB, which is now listed on the stock exchange again. In the meantime, Pfandbriefbank shares have also slipped out of the MDax index of mid-cap companies, thus losing further importance.

2.) Wirecard -71.3% on 25.06.2020 - Reason: the announcement of the insolvency application.

3.) Wirecard -63.7% on 06/26/2020 - Reason: Increasing concerns about the consequences of the accounting scandal on the operating business, still many open questions with regard to the extent of the scandal.

4.) Wirecard -61.8% on 06/18/2020 - Reason: First day of massive sell-off after the company had to postpone the presentation of figures again due to balance sheet problems.

5.) MLP -48.7% on 08/02/2002 - Reason: Profit warning and a suspicion of balance sheet irregularities, which, however, was never substantiated. The company still exists. However, it no longer plays a major role on the stock market.

6) VW ordinary share -45.3% on 29.10.2008 - Reason: burst bubble as a result of a rapid price increase the days before. The unprecedented price caprices of the VW ordinary share at the end of October 2008 led to Deutsche Borse limiting the weighting of a share in the Dax to a maximum of ten percent. As the free float of VW ordinary shares is now too low, VW preferred shares are listed on the Dax.

7.) Wirecard -44.1% on 22.06.2020 - Reason: accounting scandal comes to a head. The company admits that the escrow accounts, in which 1.9 billion euros are supposed to lie, probably do not exist.

8.) Infineon -39.6% on 03.12.2008 - Reason: Weak figures, weak outlook as well as severely battered situation of the semiconductor manufacturer. The company's share was temporarily a so-called penny stock, i.e. cost less than one euro. The stock was also temporarily removed from the Dax, but has managed to turn around. The share price was recently just under 36 euros, making the Group worth around 47 billion euros on the stock market.

9.) Hypo Real Estate -37.4% on October 6, 2008 - Reason: Further government rescue package, which led to a further drastic drop in the value of the share just one week after the 74% crash.

10) Siemens Energy -37.3% on 06/23/2023 - Reason: Due to the ongoing problems at the wind power subsidiary Gamesa, the former Siemens subsidiary had to withdraw its profit forecast. The Borsenwert sank by about seven billion euros to just under twelve billion euros.

/zb/stk