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A Smidgen of Sanity, But Shameless Grifters Still Get Rich

This is a syndicated repost courtesy of Slope of Hope – Tools for Traders. To view original, click here. Reposted with permission.

Remember when Theranos was in its final death-throes, and out of the blue, a company named Fortress Capital threw them a $100 million lifeline? That drove me nuts, because what was supposed to happen (Theranos blowing up) got stopped. But it didn’t last. Fortress lost their empty-headed investment and Theranos resumed its self-destruction.

I felt the same way we I heard that WeWork was going public (!!!!!!!!!) by way of a SPAC company whose symbol is BOWX. It’s nice to see this morning a big red bar, and I strongly suspect before this year is over we’ll see plenty more. The fact that these two shameless grifters got crazy-rich off this little enterprise boggles the mind.

Nice gums, Rebekka.

The lawyers have wasted no time with the BOWX thing, however.

Wall Street Examiner Disclosure: Lee Adler, The Wall Street Examiner reposts third party content with the permission of the publisher. The opinions expressed in these reposts are not those of the Wall Street Examiner or Lee Adler, unless authored by me, under my byline. I curate posts here on the basis of whether they represent an interesting and logical point of view, that may or may not agree with my own views. Some of the content includes the original publisher's promotional messages. No endorsement of such content is either expressed or implied by posting the content. All items published here are matters of information and opinion, and are neither intended as, nor should you construe it as, individual investment advice. Do your own due diligence when considering the offerings of information providers, or considering any investment.

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