What's Going On With WeWork Stock?
Portfolio Pulse from Erica Kollmann
WeWork Inc. (NYSE:WE) shares are experiencing volatility following a company update. The company is beginning to renegotiate 'nearly all' of its leases and plans to exit unfit and underperforming locations. WeWork shares began trading on a post-reverse split basis after a 1-for-40 reverse stock split. The stock has become popular among retail investors, earning the title of a 'meme stock'.
September 06, 2023 | 5:47 pm
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NEUTRAL IMPACT
WeWork's stock is volatile due to the company's decision to renegotiate leases and exit underperforming locations. The recent 1-for-40 reverse stock split and its popularity as a 'meme stock' may also impact the stock's performance.
WeWork's decision to renegotiate leases and exit underperforming locations indicates a strategic shift that could impact its financial performance. The recent reverse stock split may also affect the stock's price. Its popularity as a 'meme stock' suggests that its price may be influenced by retail investor sentiment, which can be unpredictable.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100