NewTradingView.com – Investing and Stock News
Investing and Stock News
  • Investing
  • Stock
  • Economy
  • Editor’s Pick
Investing

IWG share price plummeted after earnings. Buy the dip?

by August 9, 2022
written by August 9, 2022

The IWG (LON: IWG) share price collapsed on Tuesday after the WeWork competitor published weak results. The stock dropped to a low of 157.85, which was the lowest level since April 2020. It has crashed by over 63% from its highest point in 2020.

IWG losses mount

IWG is a leading British company that offers co-working solutions around the world. The firm’s brands include Regus, Signature, No18. and HQ among others. It targets companies and people in all industries. Some of its customers are firms like Microsoft, Accenture, Blackrock, and Disney among others.

IWG has a substantial market share in an industry that has become saturated recently. Firms like WeWork have taken market share while many large landlords are creating their own co-working spaces.

In a report, IWG said that the company’s system-wide revenue rose by 22.3% year-on-year in the first half of the year. This growth was mostly because of its hybrid working space solutions. At the same time, its EBITDA rose to £122.9 million, which was better than last year’s £5.4 million. 

However, it continued making losses, with the adjusted loss after tax being £81.3 million. These results mirrored those of WeWork, which made a big loss in the second quarter of this year. In a statement, the company’s CEO said:

“The integration of the former IWG digital assets is going well. Other leading brands, such as Davinci and Coworker, have been added to the digital platform and further consolidation opportunities are anticipated.”

So, is IWG a good stock to buy? The company faces significant headwinds going forward as the cost of running its business globally continues rising. Also, many companies are now slashing their operation costs, which could see it see a slower recovery. Its occupancy rate rose to 74.9%.

IWG share price forecast

The daily chart shows that the IWG stock price has been in a strong bearish trend in the past few months. The sell-off accelerated when it moved below the important support at 211p. It has moved below the 25-day and 50-day moving averages.

At the same time, the Relative Strength Index (RSI) has pointed downwards. Therefore, the stock will likely continue falling now that it has moved below the important support level at 178p. The next key psychological level to watch will be at 150p.

The post IWG share price plummeted after earnings. Buy the dip? appeared first on Invezz.

0 comment
0
FacebookTwitterPinterestEmail

previous post
Cellular LPWAN to generate over $2 billion in recurring connectivity revenue by 2027
next post
CEVA Celebrates 15 Billionth CEVA-powered Chip Shipped

You may also like

Disney Q1 earnings report: ‘this stock is unmatched...

February 9, 2023

Bank of America sees a 50% upside in...

February 8, 2023

Google stock loses 9.0% after it’s A.I event:...

February 8, 2023

Ex-Coinbase manager pleads guilty to insider trading charges

February 8, 2023

U.K. CMA issues provisional decision on Microsoft-Activision deal

February 8, 2023

Nasdaq 100 forecast – can index continue to...

February 8, 2023

Jim Cramer is bullish on Uber stock after...

February 8, 2023

Summary of Powell’s remarks and what it means...

February 8, 2023

Best undervalued Bill Ackman stocks for 2023

February 8, 2023

What’s happening to Chipotle stock in extended hours?

February 7, 2023
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Popular Posts

  • 1

    My Trigger to Enter $VAPR

  • 2

    Multi-Millionaire Trader Explains Why You Should Start Trading With A Small Account {VIDEO}

  • 3

    Scaling Up Tips From A 24-Year Old Millionaire Trader {VIDEO}

  • 4

    Pay Attention to These Stocks

  • 5

    New ‘Hunger Winter’ Looms as Europe Prepares to Shiver

Recent Posts

  • Disney Q1 earnings report: ‘this stock is unmatched anywhere else’

    February 9, 2023
  • Bank of America sees a 50% upside in this travel stock

    February 8, 2023
  • Google stock loses 9.0% after it’s A.I event: buy the dip?

    February 8, 2023
  • Ex-Coinbase manager pleads guilty to insider trading charges

    February 8, 2023
  • U.K. CMA issues provisional decision on Microsoft-Activision deal

    February 8, 2023

Categories

  • Economy (615)
  • Editor's Pick (235)
  • Investing (1,639)
  • Stock (9)
  • About Us
  • Email Whitelisting
  • Terms and Conditions
  • Privacy Policy
  • Contacts

Disclaimer: NewTradingView.com, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


Copyright © 2023 NewTradingView.com All Rights Reserved.


Back To Top
NewTradingView.com – Investing and Stock News
  • Investing
  • Stock
  • Economy
  • Editor’s Pick