WeWork Moves Forward With 1-for-40 Reverse Stock Split in Ef

WeWork Moves Forward With 1-for-40 Reverse Stock Split in Effort to Stay on NYSE

WeWork announced that it plans to move forward with a 1-for-40 reverse stock split to remain traded on the New York Stock Exchange, the coworking company announced Friday. The move — which will turn every 40 shares held by an investor into a single one — will help boost the beleaguered coworking company’s stock value after the NYSE warned WeWork in April it could be delisted since its shares fell below $1 for more than a month. WeWork’s shares dropped nearly 13 percent from Thursday’s closing price and were at 13 cents a share Friday morning.

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