The negative headlines for the battery manufacturer Varta do not stop.
After reaching a record high of 181.30 euros at the end of January, the shares of Varta AG have already lost about one third, with a particularly strong downward trend after Varta issued a cautious business outlook last week.
This outlook from Varta made it clear that the January 30 high was not in the context of fundamental developments in the group. Rather, investors, inflamed by the previous price explosion of Gamestop stock, had taken advantage of the predicament of short sellers and thus triggered violent price reactions.
And now no analyst advises to buy the Varta share. The majority currently even recommends selling.
From a technical point of view, the next support levels for Varta are at 112 euros and then at 100 euros.