WeWork Chapter 11 a meme stock reality check: 'No one should ever buy a stock that is rumored to be headed to bankruptcy'
Some investors have an attraction for bankrupt companies
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Some investors have an attraction for bankrupt companies
The office space provider operates across seven cities and 50 locations. It claims to have more than 70,000 members and 90,000-plus desks totalling to 6.5 million sq ft. Its member base includes around 80% enterprises with 20% clients coming from SMB, entrepreneurs and the startups segments. “We have seen average prices going up by 10% annually to Rs 20,000 per seat at our centre, with average occupancy of 82%,” said Virwani.
The bankrutcy filing caps a tumultuous period that saw the once high-flying startup navigate a failed initial public offering, Covid-19 lockdowns, a blank-check merger and slow return-to-office trends.
Wall Street is set for lower a open after the Nasdaq had its first seven-session winning streak since January.
07.11.2023 - The New York Stock Exchange LLC (“NYSE” or “Exchange”) announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the Class A common stock of WeWork Inc. (the “Company”) — ticker symbol WE — from the NYSE. ...