WeWork must not be working hard enough since the WE stock has crashed -99% from 15 bucks to 13 cents over the last 23 months. The Einstein CEO announces the other day that he thinks WeWork may not be able to continue as a viable operation. Ya think? Whatever gave you that idea, jackass?
WeWork leases a lot of commercial real estate space providing offices and meeting areas for businesses and workers. The commercial real estate sector is hurting and will worsen on the WeWork collapse. It was a stupid business model with far too many expensive costs versus perceived income.
From the start, Keystone humorously said that WeWork should be called WeDate since workers congregated there mainly to find dates instead of work. Everyone was young once. Like the college library where you did more ogling at the nubile bodies and pretty faces than studying.
History rhymes and repeats. At the peak of the dotcom bubble 1999-2000, Pets.com and Webvan were the two turds that ushered in the end game. Today, WeWork and Beyond Meat are the modern-day poster children. We hardly knew ye. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.
Note Added 8/16/23: WE is at 15 cents. What a turd. Lots of people were suckered.
Note Added 8/18/23: WE announces a 40 to 1 reverse stock split to try and get the sinking turd to float. WeWork is likely headed towards delisting.
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