With its market cap at about $200 million, down from a private market peak of $47 billion, WeWork in mid-August announced a 1-for-40 reverse stock split to get its shares trading back above $1, a requirement for keeping its New York Stock Exchange listing. The stock had fallen to a low of about 10 cents and is now at $3.53 following the reverse split. WeWork's business has been on a downward slide since the company's failure to conduct its initial public offering in 2019.