WeWork Inc expresses significant doubt about its ability to continue as a going concern, resulting in a 19% drop in its shares during extended trading.
The WeWork logo is displayed on a screen during the company's IPO on the floor of the New York Stock Exchange in New York City, U.S., October 21, 2021. REUTERS/Brendan McDermid/File photoon Tuesday raised "substantial" doubt about its ability to continue as a going concern, sending its shares down 19% in extended trading.
WeWork also replaced three board members and added another, stating that it was still continuing its search for a permanent CEO after Sandeep Mathrani stepped down in May.
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