WE Stock Recent News
WE LATEST HEADLINES
WeWork said on Tuesday it had secured commitments for up to $682.5 million in debtor-in-possession financing from some of its lenders, weeks after the shared office space provider filed for bankruptcy protection.
WeWork Inc. WEWKQ, +5.81%, the once-hot office-sharing platform that filed for bankruptcy protection this month, said on Monday that Ernst & Young “will not seek to be retained” as its accounting firm and would thus no longer audit the company following its chapter 11 filing. WeWork, in a filing, said there was “no dispute” between the two.
Shares of beleaguered WeWork Inc. pulled back 20.7% in premarket trades Monday, after ending Friday's session up 23%.
Neumann, still a billionaire, is seen skateboarding and socializing and his wife Rebekah has a new life too.
WeWork was famous for huge coworking spaces with amenities like climbing walls and swimming pools. Industrious CEO Jamie Hodari said they saddled the company with big liabilities and weren't viable.
WeWork took us on a wild ride. A real estate company disguised as a tech startup, holding long-term leases and turning them around for short-term rentals.
In a strange flashback to the demise of Bed Bath & Beyond Inc., WeWork Inc.'s stock soared on its over-the-counter debut this week, just days after the office sharing company filed for chapter 11 bankruptcy protection.
Shares of WeWork (OTCMKTS: WEWKQ ) stock are up by over 100% during the past five trading days. On Nov. 7, the New York Stock Exchange announced that it would begin the process of delisting the shared workspace company following its Chapter 11 bankruptcy filing in the United States.
Shares in Softbank, the Japanese investment colossus, fell 8% after reporting a surprise fourth successive quarterly loss, in the same week that one of its biggest best in recent year, WeWork, went bankrupt. The net loss of ¥931 billion (US$6.2bn, £5bn) in the second quarter of its financial year reflected further writedowns of private market valuations in its portfolio, only partly offset by gains from the initial public offering of Arm Holdings PLC (NASDAQ:ARM).
Japanese conglomerate SoftBank Group Corp.'s flagship Vision Fund reported another loss with the drop in valuations at WeWork Inc. and other portfolio companies. Peter Elstrom reports on Bloomberg Television.