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The chief executive of IWG, the world's largest flexible office group, has downplayed a significant recent drop in the company's share price.
The CEO dismissed the 17% fall as 'not rational' and attributed it to 'machine selling,' a term used to describe automated trading by algorithmic systems.
The company's stock has been volatile amid a changing work landscape and economic uncertainty.
The CEO's comments suggest that the decline was not driven by fundamental business performance or a change in long-term strategy, but rather by market mechanics.
The flexible office market has been under pressure as companies reassess their office space needs in a post-pandemic world.
However, the CEO believes that the long-term trend towards flexible work arrangements will continue to benefit IWG and that the company's value is not accurately reflected in the recent share price movements.
The statement is an attempt to reassure investors and analysts that the company remains on a solid footing despite the market's recent reaction, but it also highlights the increasing influence of automated trading on stock valuations.




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