FRANKFURT (dpa-AFX) - The recent rally in New Work shares came to an abrupt end on Thursday. After the presentation of the figures, they initially accelerated their recovery movement that began in November with an initial price jump of up to eight percent. However, investors quickly used this to exit a share that has been one of the worst-performing SDax stocks so far in 2023. It has already lost more than half of its value this year.

The parent company of the Xing career network continues to struggle in a difficult market environment with meagre demand for its products, partly due to the current situation on the labor market and subdued demand for recruitment solutions. Although New Work exceeded market expectations in the third quarter, sales were disappointing./tih/stk