17-08-2023, 04:05 PM
![](https://i.imgur.com/CLvY2jA.png")
WeWork: 1-for-40 reverse stock split to salvage its listing on NYSE
![[Image: 70d92bbd1895c3b302f84550e0b09a4f8efe9fca.jpg?1692254154]](https://s3-ap-southeast-1.amazonaws.com/investingnote-production-webbucket/attachments/70d92bbd1895c3b302f84550e0b09a4f8efe9fca.jpg?1692254154)
17-08-2023, 04:19 PM
SoftBank always loses money investing in this type of companies
[Image: https://i.gifer.com/7ZqO.gif]
21-08-2023, 09:46 AM
WeWork’s shares are so low that the struggling office landlord is praying a 1-for-40 reverse stock split will salvage its listing
BYLYNN DOAN, GEORGI AZAR AND BLOOMBERG
August 19, 2023 at 6:16 AM GMT+8
WeWork, the troubled co-working company on the brink of collapse, is moving forward with a 1-for-40 reverse stock split in a bid to save its listing on the New York Stock Exchange.
Shares on Friday hit the lowest intraday level on record and closed at 14 cents
......
he New York-based company has been bleeding cash, and customers of its office rentals are canceling memberships in droves, forcing the firm on Aug. 8 to warned that it may not be able to stay afloat.
WeWork’s stock has plunged 99% since the company went public in October 2021, wiping out US$9 billion in market value.
The reverse stock split will go into effect at 4:01 p.m. New York time on Sept. 1 and begin trading on a post-split basis at the market open on Sept. 5
......
The New York Stock Exchange requires a minimum closing price of US$1 per share and such reverse splits are standard practice for penny stocks seeking to maintain their listings.
https://fortune.com/2023/08/18/wework-re...ock-split/
BYLYNN DOAN, GEORGI AZAR AND BLOOMBERG
August 19, 2023 at 6:16 AM GMT+8
WeWork, the troubled co-working company on the brink of collapse, is moving forward with a 1-for-40 reverse stock split in a bid to save its listing on the New York Stock Exchange.
Shares on Friday hit the lowest intraday level on record and closed at 14 cents
......
he New York-based company has been bleeding cash, and customers of its office rentals are canceling memberships in droves, forcing the firm on Aug. 8 to warned that it may not be able to stay afloat.
WeWork’s stock has plunged 99% since the company went public in October 2021, wiping out US$9 billion in market value.
The reverse stock split will go into effect at 4:01 p.m. New York time on Sept. 1 and begin trading on a post-split basis at the market open on Sept. 5
......
The New York Stock Exchange requires a minimum closing price of US$1 per share and such reverse splits are standard practice for penny stocks seeking to maintain their listings.
https://fortune.com/2023/08/18/wework-re...ock-split/
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