Shares of WeWork Inc.
WE,
-24.73%
are still halted for news, as they have been halted since before the open. The troubled flexible work space company did not respond to a request for comment regarding the halt. The stock was up 35.3% in the premarket before the halt. Late Friday, the Business Wire press release service issued it’s own release saying investors should disregard a previous release that ran, with the headline “A proposal by Cole Capital Funds Seeks to Acquire 51% of all minority ownership shares of WeWork, Inc. for $9.00 per share in Cash.” The stock had plunged 65.8% last week, the biggest weekly loss since the stock started trading in its current form in October 2021, to close Friday at a record low of 84 cents. The stock has lost 90.7% over the past three months, while the S&P 500
SPX,
+0.18%
has slipped 2.8%.
Read the full article here