WeWork (NYSE:WE) stock is a hot topic among traders on Wednesday after recent reports claim the company plans to restructure its debt.
According to these recent reports, WeWork is speaking with investors about restructuring its over $3 billion of debt. Insiders say there’s no guarantee investors will agree to restructure debt. They also note that it could be weeks before official news is announced.
To go along with this, WeWork also allegedly wants to raise more money from investors. Insiders claim some investors have some interest in further investments in the company, but again, this may not come to pass.
What This Means for WE Stock
If WeWork is able to restructure its debt and gain new capital, it would be a major win for the company. The office space renting company is looking for extra funds to keep it going through recent economic turmoil. Getting these funds could allow it to better weather the next few years a bounce back from recent troubles.
As for WE stock movement today, some 3.8 million shares have changed hands as of this writing. That’s not a bad start to the day, but it still has a ways to go before it reaches the company’s daily average trading volume of about 9 million shares.
WE stock is up 7.9% as of Wednesday morning.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.