WeWork’s CEO, Sandeep Mathrani, disclosed that he bought 29,600 shares at $8.46 each on Friday (Nov. 19). Following the news, WeWork shares began trading higher on Monday (Nov. 22). The latest purchase boosts Mathrani’s position to 1.76 million shares. Â
WeWork went public last month via a SPAC deal with Bow X Acquisition Corp. The stock opened for trading at $11.28 but has since drifted lower. On Monday November 22, the stock rallied to $9.56. WeWork reported last week that its third-quarter revenues were down 18% from a year ago to $661 million. The coworking company also reported losses of $356 million in the quarter. Â
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Source:
Barron's
