Why the Long Face?

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I just finished reading this terrific article about shameless grifters Adam and Rebekkah Neumann and their WeWork scam, and I was reminded that this company is, in fact, now public. They had been planning on a tremendous $50 billion IPO two years ago, but after Neumann’s, ummm, lack of vision was revealed, they was torpedoed. Instead, they took the humiliating SPAC route, and let’s just say it’s precisely what you expect. Firm support at $0.00. And keep in mind, this performance is in the midst of the most gargantuan fraudulent market in history, so it’s still overvalued by $10 per share.