WeWork Inc WE shares are getting crushed after the shut on Tuesday following experiences that the corporate is on the brink of chapter.
What Occurred: In response to a Wall Avenue Journal report citing folks aware of the matter, WeWork plans to file for Chapter 11 chapter in New Jersey as quickly as subsequent week.
WeWork was as soon as valued as excessive as $47 billion, however the firm had a market cap of simply $136 million as of Tuesday’s shut.
WeWork is a worldwide versatile house supplier dedicated to delivering technology-driven turnkey options, versatile areas, and group experiences for startups and different enterprises.
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WE Value Motion: WeWork shares are down greater than 96% for the reason that begin of the 12 months. The inventory was down 29.40% at $1.60 on the time of publication, in response to Benzinga Professional.
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