Why is WeWork planning a 40 for 1 reverse stock split?

WeWork is implementing a 40-for-1 reverse stock split in an effort to raise its share price above $1, meeting the minimum requirement for continued listing on the New York Stock Exchange. The company's shares had plummeted to 16 cents from a peak of $13.71 in April 2021, resulting in a significant loss of value and putting its listing status at risk.

This reverse stock split, approved by shareholders in June, aims to consolidate 40 of its existing shares into a single new share, effectively raising the share price. WeWork's market value has decreased dramatically, once being valued at $47 billion by SoftBank, it now stands at around $333 million. The reverse stock split is scheduled to take effect after the market close on September 1, and WeWork believes it will not impact its ongoing business operations.

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