https://tokenist.com/weworks-shares-up-87-on-tuesday-post-biggest-1-day-gain/
In a surprising development, WeWork's stock price soared by almost 87% in a single trading day, the largest one-day gain since its October 2021 public debut. This surge is particularly noteworthy given the coworking company's recent financial struggles, including a dire warning last month of a potential collapse. The stock's trading volume skyrocketed to 47.5 million shares, dwarfing its past month's full-day average of just 2.4 million, yet no specific event has been identified as the catalyst for this dramatic rise.
Even as its stock showed this unexpected buoyancy, WeWork's challenges persist. The company is still nearly 90% down year-to-date and recently executed a 1-for-40 reverse stock split to avoid being delisted from the New York Stock Exchange. WeWork has also posted a net loss of $397 million in Q2 of this year, heightening concerns about its financial stability. This sudden surge in stock price, devoid of any obvious trigger, raises questions about whether we're witnessing another meme stock phenomenon or if this signifies a turning point in the company's fortunes.
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