WeWork? No, WeSplit. Meme Stock Files For 1-40 Reverse Split
Portfolio Pulse from AJ Fabino
WeWork Inc (NYSE:WE) has announced plans to undergo a 1-for-40 reverse stock split for its Class A and Class C Common Stock. The decision is aimed at increasing the company's per-share price and ensuring compliance with the New York Stock Exchange's $1 per share minimum closing price requirement. The reverse stock split is expected to take effect after market close on September 1.
August 18, 2023 | 2:13 pm
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NEUTRAL IMPACT
WeWork's decision to undergo a reverse stock split is aimed at boosting its per-share price and ensuring compliance with NYSE rules. This could potentially stabilize the company's stock price in the short term.
The reverse stock split will increase WeWork's per-share price, which could make the stock more attractive to investors. However, the company's ongoing struggles and recent non-compliance notice from the NYSE could continue to impact investor sentiment.
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IMPORTANCE 80
RELEVANCE 100