Market cap sitting at $350m which is honestly very low.
This company is either going bankrupt or it's going to probably at least 3x itself from here.
The question is, which one will it be?
I think it will more likely at least 3x, maybe even 5x or more from here.
The thing is, WeWork is still the gold standard for coworking. It's a very recognizable brand. The poor management of the company does not detract from the quality bar it set for the coworking space. And all the news it got and the TV shows that were made from it, actually contributed to the fame of the brand.
I just moved to Shanghai and there are a ton of Wework's here. The staff all speak English and were educated in western universities. It was impressive compared to Regus offices here, where the staff barely spoke English at all. Also I noticed the staff at wework locations in china are the more cultured modern chinese.
I'm thinking of taking a $100k USD bet on wework. Could lose it all but could be $300k by the end of the year.
P.S. Wework being delisted is not a big deal. Luckin Coffee was delisted and did a 10x since then
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