WeWork shares are trading lower after the company announced it will proceed with a 1-for-40 reverse stock split.
Portfolio Pulse from Benzinga Newsdesk
WeWork has announced a 1-for-40 reverse stock split, leading to a decrease in its share price.
August 18, 2023 | 1:25 pm
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WeWork's announcement of a 1-for-40 reverse stock split has led to a decrease in its share price.
A reverse stock split reduces the number of shares in circulation, which can lead to an increase in the stock's price. However, in WeWork's case, the announcement has led to a decrease in its share price, indicating a negative market reaction.
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