WeWork S-1: A Masterpiece of Obfuscation
Updated: Aug 22, 2019
In an article this morning about WeWork's upcoming IPO, Bloomberg's Drew Singer spoke with Triton's Rett Wallace about the lengths at which the Company went to hide the daunting unit economics of its business. “The prospectus is a masterpiece of obfuscation If the underlying facts were positive, why would a company go to so much trouble to prevent you from understanding them?” Singer goes on to highlight Triton's historical performance as it relates to using data to evaluate technology IPOs: "Triton has built a strong track record predicting the winners and losers among technology IPOs. Since January 2018, listings that won an above-average score from Triton have risen about 92% from their offering prices, nearly triple the return of those scoring below average.
IPOs with the highest Triton scores include standouts Elastic NV, Smartsheet Inc. and Anaplan Inc., while post-listing duds such as Sonos Inc., Dropbox Inc. and Lyft Inc. rank among the low scorers." Full article on Bloomberg - HERE