On Friday November 3, Traders Circulated A Fake Press Release Stating That There Was An Offer To Purchase 51% Of The Company At $9/Share; NOTE: WeWork/Cole Capital Article Has Been Withdrawn
Portfolio Pulse from Benzinga Newsdesk
A fake press release circulated among traders on November 3, stating that there was an offer to purchase 51% of WeWork at $9 per share. The related article from Cole Capital has been withdrawn.
November 06, 2023 | 1:38 pm
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NEUTRAL IMPACT
WeWork was the subject of a fake press release stating a 51% purchase offer at $9/share. The news, although false, may have caused temporary market confusion.
The fake press release directly mentioned WeWork and could have led to temporary market confusion and volatility in the company's stock. However, since the news was false and has been withdrawn, the impact is likely to be short-lived.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100