WeWork's Reverse Stock Split Aims to Regain Listing Compliance
WeWork plans to proceed with a one-for-forty reverse stock split in order to regain compliance with listing requirements, as the company's shares have plummeted in value since its market debut. Once valued at $47 billion, WeWork's market capitalization now stands at around $336 million. The reverse stock split, effective on September 1st, aims to help the company meet the minimum closing price required for continued listing. WeWork has faced significant challenges, including investor concerns over losses and doubts about its business model, leading to a series of cost-saving measures and executive departures.