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MarketFoolery

WeWork Retreats, Kraft Heinz Sells Off

MarketFoolery

The Motley Fool

Money, Business, Motley, Business News, Stocks, News, Investing, Market, Fool

4.71.7K Ratings

🗓️ 17 September 2019

⏱️ 19 minutes

🧾️ Download transcript

Summary

WeWork tables its IPO. 3G Capital sells 25 million shares of Kraft Heinz. Will Berkshire-Hathaway follow suit? MFAM Funds portfolio manager Bill Barker analyzes those stories. Plus, we discuss the forecast for holiday retail sales and debate the odds of “unprecedented uncertainty”.

Get the money you need to run your small business. Go to Kabbage.com to get started. Credit lines subject to review and change. Individual requests for capital are separate installment loans issued by Celtic Bank, Member FDIC.

Transcript

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0:00.0

Thanks to Cabbage for supporting market foolery.

0:02.0

Get the money you need to run your small business today.

0:04.7

Go to cabbage.com to get started.

0:06.8

Credit line subject to review and change individual requests for capital

0:11.0

are separate installment loans issued by Celtic Bank member FDIC.

0:15.0

It's Tuesday, September 17th.

0:19.0

Welcome to Market Foolery.

0:20.0

I'm Chris Hill joining me in studio from M-Fam Funds, Bill Barker. Thanks for being here.

0:25.0

Thanks for having it.

0:26.0

We've got a holiday retail forecast. We've got some consumer goods news, but we're going to start with the end of Wee Company. Not the end, I suppose, of

0:37.0

the parent company of We Work, but certainly the end of its attempt to be a public company

0:42.1

because it is officially over. We work has shelved its

0:45.3

plans to go public. And I'll just say something that I've said before, which is I have never

0:51.1

seen anything like this before. I've never seen anything like this before.

0:53.0

I have never seen anything this fast, this negative this fast to go from in less than a month, basically.

1:02.0

We're going public. in less than a month, basically.

1:03.0

We're going public, here's our valuation, oh you don't like that, we're going to cut it in half.

1:09.0

Oh, you don't like that?

1:11.4

Can we lower it even further? now I don't know what happens to this company?

1:17.3

So they've postponed the IPO until at least October, right?

1:24.6

So you've said this is the end, but I think this is just one,

1:29.5

the end of the beginning, the end of the first attempt to go public, and if they can, I don't know,

...

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