{"id":108031,"date":"2021-10-21T10:00:00","date_gmt":"2021-10-21T14:00:00","guid":{"rendered":"https:\/\/ibkrcampus.com\/?p=108031"},"modified":"2023-01-19T17:37:54","modified_gmt":"2023-01-19T22:37:54","slug":"second-act","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/stocks\/second-act\/","title":{"rendered":"Second Act"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\" id=\"h-what-s-going-on\">What&#8217;s going on?<\/h2>\n\n\n\n<p>WeWork&nbsp;<a href=\"https:\/\/investors.wework.com\/news-and-events\/press-releases\/financial-releases-details\/2021\/BowX-Acquisition-Corp.-Announces-Stockholder-Approval-of-Business-Combination-with-WeWork\/default.aspx\">announced<\/a>&nbsp;earlier in the week that it\u2019s finally hitting the stock market on Thursday, and the coworking giant is hoping its critics give it a kinder reception this time around.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-does-this-mean\">What does this mean?<\/h2>\n\n\n\n<p>2019 was a simpler time \u2013 a time when WeWork, rather than a pandemic, was stealing all the headlines. The company, after all, went from planning its&nbsp;<a href=\"https:\/\/www.finimize.com\/wp\/definition\/initial-public-offering-ipo\/\">initial public offering<\/a>&nbsp;at an eye-watering $47 billion valuation to a spectacular&nbsp;<a href=\"https:\/\/www.finimize.com\/wp\/news\/wontwork\/\">flameout<\/a>&nbsp;after investors got nervous that it might never turn a profit. But what a difference two years makes: WeWork\u2019s dream is finally about to become reality, albeit this time via a special-purpose acquisition company (SPAC). In other words, it\u2019s set to merge with a listed shell company that\u2019ll fast-track its arrival onto the stock market. Nowhere near the same sort of money\u2019s involved, mind you: the deal\u2019s worth a relatively paltry $9 billion.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-why-should-i-care\">Why should I care?<\/h2>\n\n\n\n<p><strong><em>The bigger picture:&nbsp;<\/em><\/strong><em>Is WeWork a good buy?<\/em><\/p>\n\n\n\n<p>SoftBank has been trying to put investors\u2019 minds at ease ever since it&nbsp;<a href=\"https:\/\/www.cnbc.com\/2019\/10\/23\/softbank-to-take-control-of-wework.html\">bought<\/a>&nbsp;a controlling stake in WeWork in 2019 \u2013 from bringing in a new CEO to cutting the company\u2019s dizzying costs. And while lockdowns&nbsp;<em>have<\/em>&nbsp;hurt WeWork in the last 18 months, the Japanese conglomerate is confident that demand for flexible workspaces will thrive in a world where people crave a more hybrid lifestyle. Let\u2019s hope so: WeWork has notched up losses of $3 billion in the first half of this year, and it\u2019s behind on its revenue target too.<br><br><strong><em>Zooming out:&nbsp;<\/em><\/strong><em>The robots have arrived.<\/em><\/p>\n\n\n\n<p>WeWork isn\u2019t the only SoftBank-backed company going public this week: warehouse automation company AutoStore listed on the stock market on Wednesday, and investors initially sent its shares up by 11%. No surprises there: the Norwegian firm saw revenue surge 88% in the first six months of 2021 compared to the same time last year, as firms piled money into their booming ecommerce segments.<\/p>\n\n\n\n<p>&#8212;<\/p>\n\n\n\n<p>Originally Posted on October 20, 2021 &#8211; <a href=\"https:\/\/www.finimize.com\/wp\/news\/second-act\/\">Second Act<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>WeWork announced earlier in the week that it\u2019s finally hitting the stock market on Thursday, and the coworking giant is hoping its critics give it a kinder reception this time 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