The stock price of the international shared-workspace giant WeWork (NYSE: WE) continued to rise today, jumping by a further 18% totaling the total growth in the last 48 hours to roughly 30%. WeWork has kicked off its trading debut looking accomplished.
The journey for WeWork hasn’t always been abundant with celebration, and like the rest of the avid entrepreneurs trying to shuffle around market gaps and brand identity – it’s not an easy landscape to navigate. Let’s just say that many were surprised to see the WeWork team standing where they are today.
However, after internal disagreements were rectified following some management changes and the ousting of over-ambitious CEO Adam Neumann, WeWork moved on from its 2019 scrapped IPO. Two years later, the company moved ahead with plans for a merger with BowX Acquisition Corp.
From disgruntled and unorganized to a $9 billion valuation – it’s no wonder WE stock is thoroughly enjoying its debut days of trading. It might not be the $47 billion that was valued by SoftBank Group in 2019 but the company has put a lot of work in re-evaluating its image to prospective investors to rebuild positive sentiment.
Marcela Claure, Executive Chairman of WeWork, commented in a humble statement:
“Sure, this is a story where a lot of people wrote documentaries that it was the end of WeWork. Well the resistance, the persistence of these people is incredible. This company is here, is stronger than ever, and no doubt that we’re going to be celebrating many more milestones.”
The merger with BowX has unhinged a world of potential for WeWork. Already a globally active office force; with a strong, dedicated management structure and clear-cut pragmatism; this fledgling stock is worth keeping an eye on. Currently, the flurry of bullish excitement is starting to ease up, with a loss in momentum resulting in gains of just over 11%, trading at $13.10.
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