WE Stock Recent News

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.

CNBC's Deirdre Bosa reports on news from SoftBank.

Tech conglomerate and investor SoftBank has lost $14.4 billion so far on WeWork. The office-sharing firm filed for bankruptcy earlier this week.

The most recent high-profile company in distress is WeWork which filed for Chapter 11 protection with about $18.7 billion in liabilities and $15.1 billion in assets.

Co-working spaces are designed for tech startups, not downsizing corporate tenants.

The Japanese tech investor sank deeper into the red as it reported write-downs related to the bankruptcy of office-sharing company and technology shares stayed under pressure.

WeWork's bankruptcy announcement is particularly rosy about its future.  The company, founded by Adam Neumann, was once valued at $47 billion.