Why WeWork Stock Lost 14% of Its Value in February
Shares of work-space company WeWork (NYSE: WE) tumbled 14% in February according to data provided by S&P Global Market Intelligence. The company, once an up-and-coming leader in its industry, continues to experience a negative reception by the investing community.
WeWork finally went through an initial public offering (IPO) in October 2021, about two years behind its original plan. During that time, the start-up lost funding, ousted its founder and CEO, and went through a protracted transition to whip it into shape. It finally went public at a valuation of $9 billion, down from the $47 billion it would have had in a 2019 IPO. However, even at that reduced price, the stock has gone from bad to worse.
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Source Fool.com
