In this Letter we present the electrical and electro-optical characterization of single crystalline germanium nanowires (NWs) under tensile strain conditions. The measurements were performed on vapor-liquid-solid (VLS) grown germanium (Ge) NWs, monolithically integrated into a micromechanical 3-point strain module. Uniaxial stress is applied along the ⟨111⟩ growth direction of individual, 100 nm thick Ge NWs while at the same time performing electrical and optical characterization at room temperature. Compared to bulk germanium, an anomalously high and negative-signed piezoresistive coefficient has been found. Spectrally resolved photocurrent characterization on strained NWs gives experimental evidence on the strain-induced modifications of the band structure. Particularly we are revealing a rapid decrease in resistivity and a red-shift in photocurrent spectra under high strain conditions. For a tensile strain of 1.8%, resistivity decreased by a factor of 30, and the photocurrent spectra shifted by 88 meV. Individual stressed NWs are recognized as an ideal platform for the exploration of strain-related electronic and optical effects and may contribute significantly to the realization of novel optoelectronic devices, strain-enhanced field-effect transistors (FETs), or highly sensitive strain gauges.