The founder and CEO of Gowex has quit today after admitting his company accounts are made up and he’s been hiding the loss of hundreds of millions of euros. Trading in Gowex shares was suspended on Thursday after they dropped by about 60 percent in two days, wiping around 870 million euros ($1.2 billion) off the company’s stock market value, in the wake of a damning report by US short sellers Gotham City Research. Gotham Continue reading One of Spains largest technology companies “nothing but an empty shell”
14 companies are still listed on the Spanish stock market, despite being insolvent. These “zombie” stocks haven’t been delisted, but continue to clog up the system despite trading in their stocks being suspended. When trading in Vértice 360 was suspended by the Spanish market regulator CNMV after the company declared insolvency in April, this brought the number of Spanish stocks with trading suspended theoretically to 14.