WeWork’s stock soared on its over-the-counter debut this week
In a strange flashback to the demise of Bed Bath & Beyond Inc., WeWork Inc.’s stock soared on its over-the-counter debut this week, just days after the office sharing company filed for chapter 11 bankruptcy protection.
Trading resumed over the counter on Wednesday, with WeWork shares ending their first session as an OTC stock up 91.5%. A similar scenario happened when shares of Bed Bath & Beyond began trading over the counter in May after the Nasdaq started the delisting process for the bankrupt home-goods retailer and sometime meme-stock darling. Despite Bed Bath & Beyond’s well-documented woes, the stock ended its first session as an OTC stock up 30.4%. Bed Bath & Beyond’s shares were canceled in September.
Like Bed Bath & Beyond, WeWork has continued to attract investor attention even as the company’s problems mounted. In mid-September WeWork’s stock saw a record run-up amid meme stock chatter, just weeks after WeWork warned that it may not be able to stay in business.Users on social media noted the activity in WeWork’s share price this week, with Twitter user @asunapg warning Thursday that the OTC markets are “much more volatile and often a death trap for a lot of companies.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
AMC Entertainment Stock Plunges on Plans to Sell $350 Million of StockThe movie-theater chain files to offer up to $350 million of stock.
Read more »
Stock Market Today: S&P 500 Eyes 9-Day Winning Streak; Disney Stock in FocusLive updates on stocks and financial news, including the S&P 500, Dow and Nasdaq Composite.
Read more »
Trend tracking CTA hedge funds suffer as stock and bond markets rallyLouis Goss is a MarketWatch reporter based in London.
Read more »
Marks & Spencer Group PLC Stock Quote (U.K.: London)MKS | Complete Marks & Spencer Group PLC stock news by MarketWatch. View real-time stock prices and stock quotes for a full financial overview.
Read more »
Charter, Diamondback, and 6 Other Stocks That Hit Growth, Value, and MomentumUpstream oil and gas producers, Charter Communications, and Jabil pass a Barron's stock screen.
Read more »
Buffett Continues to Buy Occidental Petroleum Stock, Setting Stage for a RallyStocks Analysis by MarketBeat.com (Thomas Hughes) covering: Occidental Petroleum Corporation, Berkshire Hathaway B, Berkshire Hathaway Inc A, Berkshire Hathaway Inc Class A. Read MarketBeat.com (Thomas Hughes)'s latest article on Investing.com
Read more »