Stock Market Today: Futures Tread Water; Fed's Powell Due to Speak

WeWork hasn’t worked well for SoftBank. With WeWork’s bankruptcy filing Tuesday, SoftBank has lost over $14 billion on its investments in the office-leasing company, an analysis of SoftBank filings and WeWork’s stock price shows. It is an astounding amount of money to have lost on a single company, and it marks one of the worst bets ever on a startup. The scale of the loss is especially striking given the industry: Competitor IWG, with similar revenue to WeWork, has a market value of $1.

SoftBank then lent $5 billion—and bought more equity—to bail out the company in 2019 after Neumann was ousted as chief executive. The losses come from both debt and equity. SoftBank put about $12 billion into WeWork shares, per a 2022 filing. And while SoftBank offloaded some loans to other investors, it is by far the largest creditor and has steadily written down the debt in recent quarters. In its March 2022 annual report, SoftBank said it had lost $8.7 billion on WeWork stock.

España Últimas Noticias, España Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Stock Market Today: Dow Futures Waver, UBS Posts a LossStock futures ticked lower early Tuesday. Investors got updates from UBS and Saudi Aramco.
Fuente: WSJ - 🏆 98. / 63 Leer más »

Stock Market Today: Dow Futures Waver, UBS Posts a LossStock futures ticked lower early Tuesday. Investors got updates from UBS and Saudi Aramco.
Fuente: WSJ - 🏆 98. / 63 Leer más »

Stock Market News Today: Dow, S&P 500 Slip; Tesla, WeWork Stocks in FocusLive coverage of stocks and financial news, including the S&P 500, Dow and Nasdaq Composite.
Fuente: WSJ - 🏆 98. / 63 Leer más »

Stock Market Today: Dow ends higher, but rising Treasury yields keep lid on gainsStock Market Today: Dow ends higher, but rising Treasury yields keep lid on gains
Fuente: Investingcom - 🏆 450. / 53 Leer más »

Stock Market Today: Stocks slide, Treasury yields rise as bears test peak rate betsStocks are closely tracking Treasury yields Tuesday, ahead a key three-day run of new bond auctions, as markets test recent bets on peak Fed rates.
Fuente: startelegram - 🏆 248. / 63 Leer más »

Stock Market Today: Dow higher as tech reigns supreme to help extend win streakStock Market Today: Dow higher as tech reigns supreme to help extend win streak
Fuente: Investingcom - 🏆 450. / 53 Leer más »