T. Rowe Price calls WeWork a ‘terrible investment’ (TROW)
|02/14/2020||Posted by BusinessMediaguide.Com under General World News||
- In an unusually frank letter, fund managers at T. Rowe Price derided WeWork as a “terrible investment.”
- T. Rowe Price led WeWork’s Series D financing round in 2014, which valued the company at $4.65 billion.
- The fund managers said they invested with the understanding that WeWork would curb its losses and growth, but that didn’t happen.
- WeWork failed to go public last year and nearly went bankrupt instead, sending its valuation plummeting in the process.
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When it comes to investing in WeWork, you could say that T. Rowe Price’s investment team has some regrets.