Last Friday and this Monday, the garbage symbol WE from the garbage fraud WeWork went exploding higher by about 50%. WeWork, of course, famous plunged in value from $47 billion to a few hundred million dollars. Its true worth, in my estimation, is $0.00. What’s annoying to me is that, every month or two, some numb-nut group out there gooses the stock since it’s “cheap” and pushes it massively higher (percentage-wise, at least) only to see it roll over and do the ONLY thing WeWork has succeeded at doing, which is Go To New Lifetime Lows. You can see this charted below, next to the hideous beast.
In my life, there are times I believe fate is the master. Even as a kid, I knew the USSR would eventually fail, and that glorious event happened in 1991. As an adult, I felt that the entire crypto space was a ridiculous joke, and although it’s still gasping for air and trying to stay alive, I suspect that industry will eventually prove me right. And, on this particular topic, I’ve always felt that WeWork, given its disgusting origins and megalomaniac psychopath behind the place, would find itself in ruination. The delisting of WE can’t happen fast enough.
Speaking of which, Caravana (which itself was founded by a convicted felon, although he had to hide behind his son to get it past the eyes of the SEC) has enjoyed its own explosive move, thanks to the empty-headed lunacy of 2023. I would like to suggest that this stock, which is the #1 gainer in the entire market today, has finally met its own meaningful resistance.
