Shares of WeWork Inc. WE slumped 13.4% in premarket trading, after they enjoyed a record rally in the previous session despite no news reported. The troubled flexible work space provider’s stock had rocketed 87.0% on Tuesday, and had soared 116.6% in two days, to snap a five-session losing streak in which it tumbled 43.9% to close Friday at a split-adjusted record low of $2.65. The company has not responded to a MarketWatch request on Tuesday for comment on the stock’s rally. WeWork shares have plummeted 90.0% year to date through Tuesday, while the S&P 500 SPX has gained 16.2%.
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