- The WeWork Inc (NYSE: WE) stock was trending over the last couple of days. This is why.
The WeWork Inc (NYSE: WE) stock was trending over the last couple of days. Yesterday, the company stock price closed down 22.44% and then it went back up 7.13% after hours.
The reason why the stock price fell is due to reports that WeWork was in discussions to raise new equity. According to Bloomberg, WeWork was in discussions to raise new equity due to talks being kick-started by investor interest.
Bloomberg pointed out that the capital raise could have been structured as private investment in public equity (PIPE). And WeWork was reportedly looking at bringing in over $200 million.
But then the stock price increased again after hours after WeWork issued a statement saying that they have no plans to issue additional equity at this time.
“Our liquidity at the end of the third quarter stands at $2.3 billion,” said WeWork in a statement.
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