this post was submitted on 19 Aug 2023
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WeWork announces 1-for-40 reverse stock split to retain New York listing (www.ft.com)
submitted 1 year ago by L4s@lemmy.world to c/technology@lemmy.world
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WeWork announces 1-for-40 reverse stock split to retain New York listing::US office space group recently warned it faced ‘substantial doubt’ about ability to continue as a going concern

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[–] phoneymouse@lemmy.world 2 points 1 year ago

I don’t know the company’s finances, but my guess is the concept can be successful, but WeWork may have taken on too much debt or over-extended itself in its rapid growth period.

A company that is expanding more strategically and with an eye on the bottom line might end up doing fine.