After The We Company revealed it doubled its losses to nearly $2 billion last year, its bond prices fell to 91 cents on the dollar, down from 92.6 cents from the previous day.
In fact, the company’s bonds dipped to 96 cents on the dollar during its very first week of trading.
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During a presentation to bond investors, We revealed that its massive expansion had led its revenue to double, along with its losses.
Last January, the company’s bonds hit a record low of 86 cents on the dollar after SoftBank took a step back on a $16 billion investment, reducing it to $2 billion.
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