Now WeWork faces cash crunch as it struggles with dwindling users and expensive long-term leases, watching as its market cap plunged from $2.3B at the start of December to $1.35 billion at the end of trading on Wednesday.
The company now has a market cap of $2 billion at the end of trading on Wednesday, after being forced to wince through articles likeUnder Adam Neumann, WeWork expanded rapidly before investors eventually grew concerned over the growth strategy. After Neumann'sThe company had negative cash flow of $4.3 billion from July to September this year, per.
Hybrid, remote working & cost optimization during these times should be a tailwind for wework coworking businesses.