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Home News Business

WeWork Shares Trade Higher after CEO Disclosed Open-Market Stock Purchase

WeWork’s CEO, Sandeep Mathrani, disclosed that he bought 29,600 shares at $8.46 each on Friday.

Cecilia Amador de San JosébyCecilia Amador de San José
November 23, 2021
in Business
Reading Time: 1 min read
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Wework

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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.  

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.  

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Source: Barron's
Tags: BusinessCoworkingInvestment
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Cecilia Amador de San José

Cecilia Amador de San José

Cecilia is an experienced writer and editor with a background in strategic communications. She has written articles for Allwork.Space on several topics, including the future of work, flexible workspaces, employee wellness., and more.

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