What's Going On With WeWork Shares Today?
Portfolio Pulse from Akanksha Bakshi
WeWork Inc. (NYSE:WE) has chosen not to make aggregate interest payments totaling about $95.2 million, due in 2023, despite having the liquidity to do so. The company has a 30-day grace period before this is considered a default. WeWork is using this time to converse with key stakeholders and save cash while working on its strategic plan. The company's shares are trading lower by 7.12% at $2.74 in premarket trading on Tuesday.
October 03, 2023 | 11:56 am
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WeWork's decision to not make interest payments, despite having the liquidity, could raise concerns among investors. This, coupled with the company's ongoing strategic planning, has led to a 7.12% drop in premarket trading.
WeWork's decision to not make interest payments, despite having the liquidity, could be seen as a negative signal by investors, leading to a drop in the company's stock price. The company's ongoing strategic planning could also be contributing to investor uncertainty.
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