Why WeWork Stock Is Tumbling Wednesday
Portfolio Pulse from Adam Eckert
WeWork Inc (NYSE:WE) reported worse-than-expected Q2 financial results, missing revenue and EPS estimates. The company's real estate portfolio consisted of 777 locations as of June 30, with All Access consolidated memberships totaling approximately 75,000 in the second quarter, up 21% year-over-year. WeWork ended the quarter with $205 million in cash and $680 million in total liquidity. The company also announced changes to its board, appointing four new directors.
August 09, 2023 | 2:03 pm
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NEGATIVE IMPACT
WeWork's worse-than-expected Q2 results and the announcement of changes to its board could negatively impact the company's stock price in the short term.
WeWork's Q2 results missed estimates, which is typically a negative signal for investors and can lead to a decrease in stock price. Additionally, changes to a company's board can create uncertainty, which can also negatively impact the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100