Why WeWork Stock Soared Today
Shares of WeWork (NYSE: WE), a real estate company focusing on shared working environments, were climbing today after the company reported in a Security Exchange Commission (SEC) filing that its CEO, Sandeep Mathrani, bought 30,000 shares of WeWork.
The company's stock soared by more than 16% during trading today and was up by 10.1% as of 2:06 p.m. ET.
WeWork filed a Form 4 with the SEC showing that Mathrani purchased 30,000 shares of WeWork at an average price of $6.55. Investors like to see a company's management financially invested in the company, so it's not that surprising to see WeWork's stock jump on this news.
Source Fool.com
