![WeWork To Adjust Corporate Governance, Valuation Ahead Of IPO](https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1167835760/image_1167835760.jpg?io=getty-c-w750)
Drew Angerer/Getty Photos Information
WeWork (NYSE:WE) shares soared 72% in Tuesday mid-afternoon buying and selling and have greater than doubled in two days, although there would not seem like any information driving the rally.
Some 50M shares of the embattled flexible-office house firm modified fingers to this point in the session, representing greater than 38 occasions the three-month common.
After ending final week at a document low, WE climbed 16% on Monday and surged as a lot as 119% on Tuesday — the most important intraday acquire since August 10.
Even after pairing positive aspects, WE is on observe to finish the session with the most important improve for the reason that firm went public by means of a blank-check merger in October 2021.
Nonetheless, the inventory is down over 90% year-to-date, because the agency has “substantial doubt” about its capability to proceed as a “going concern.” Final week, WeWork (WE) stated it began the method of renegotiating practically all its leases with the intention to repair its “rigid and high-cost lease portfolio.”
![WeWork To Adjust Corporate Governance, Valuation Ahead Of IPO](https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1167835760/image_1167835760.jpg?io=getty-c-w750)
Drew Angerer/Getty Photos Information
WeWork (NYSE:WE) shares soared 72% in Tuesday mid-afternoon buying and selling and have greater than doubled in two days, although there would not seem like any information driving the rally.
Some 50M shares of the embattled flexible-office house firm modified fingers to this point in the session, representing greater than 38 occasions the three-month common.
After ending final week at a document low, WE climbed 16% on Monday and surged as a lot as 119% on Tuesday — the most important intraday acquire since August 10.
Even after pairing positive aspects, WE is on observe to finish the session with the most important improve for the reason that firm went public by means of a blank-check merger in October 2021.
Nonetheless, the inventory is down over 90% year-to-date, because the agency has “substantial doubt” about its capability to proceed as a “going concern.” Final week, WeWork (WE) stated it began the method of renegotiating practically all its leases with the intention to repair its “rigid and high-cost lease portfolio.”