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<ul class="list-ic vertical"> 
 <li> 1 <a>WeWork, a New York-based co-working space went bankrupt, according to The Wall Street Journal.&nbsp;</a> </li> 
 <li> 2 <a>The pandemic and poor management stood out as the main reasons, pushing the stock price to the $1.15 mark.</a> </li> 
</ul> 
WeWork Inc. is planning to announce Bankruptcy next week as reported by Wall Street Journal. WeWork Inc (NYSE: WE) is a New York-based co-working space company that once had a valuation of approximately $50 Billion. 
At the time of writing, WE stock price is trading at $1.15. WeWork stock price dropped by 99% from its listing price. The main reasons encountered behind the company’s collapse were poor management and the COVID-19 pandemic. 
<h2 class="wp-block-heading" id="strong-wework-global-key-reasons-behind-the-collapse-strong">WeWork Global: Key Reasons Behind the Collapse</h2> 
WeWork was founded in the year 2010 with the support of SoftBank. WeWork accumulated an incredible valuation of $47 Billion in funding. It went public in October 2021 and since then it has been facing a series of challenges. The key reasons behind the collapse are substantial financial loss, leadership issues, corporate governance issues, and lastly, the management ideologies that did not support the growth of the company. 
Notably, the coworking industry and the real estate sector were heavily affected by the COVID-19 pandemic. 
In addition, in the last quarter, the company generated a revenue of $844.00 Million with a negative net profit of $349.00 Million; the profit margin was -41.35%. However, compared to last year’s loss of $577 Million, the company reduced its losses to $349 Million in Q2 2023 and in the month of June, WeWork’s cash in hand was $205 Million.&nbsp; 
WeWork also unveils its plan to reduce the workforce by 300 employees in January 2023 across various countries to handle the financial challenges. 
<h2 class="wp-block-heading" id="strong-wework-stock-plunges-after-the-bankruptcy-news-what-next-strong">WeWork Stock Plunges after the Bankruptcy News; What Next?</h2> 
Currently, the WE <a href="https://www.thecoinrepublic.com/2023/09/04/frc-stock-price-forecast-will-first-republic-bank-break-1/">stock</a> price was trading at $1.15 with a sharp intraday drop of 46.49% after news of the bankruptcy was out. The market capitalization of the company was $64.972 Million with a shares float of 12.293 Million. Overall, technical indicators are in the oversold zone and suggest extreme bearishness.&nbsp; 
<h2 class="wp-block-heading" id="strong-will-wework-global-bankruptcy-affect-wework-india-strong">Will WeWork Global Bankruptcy Affect WeWork India?</h2> 
Now, a big question is, what will be the future of WeWork India? WeWork India is backed by the Embassy group which holds a major stake in the company. 
WeWork India’s CEO, Karan Virwani clarified that WeWork Global and WeWork India are different entities and the news of bankruptcy and Chapter 11 filing in the United States will not affect the WeWork India operations. 
Karan Virwani stated, “Anything that will happen on a global scale will not affect the operations in India, and they will resume to serve their members, landlords, and partners without disruption.” 
WeWork Inc. has a stakeholding of 27% ownership in the company, and 73% is owned by the Embassy Group, an office development company in India. Outside the United States, WeWork India is the fastest-growing international affiliate. 
WeWork made its entry into Indian markets in 2017. Since then, it has been a front-runner in providing flexible workspaces. The company signed agreements for over 6.5 Million square feet of workspace at 50 locations in New Delhi, Gurugram, Noida, Mumbai, Bengaluru, Pune, and Hyderabad. 
Furthermore, WeWork India took new initiatives and has appointed key executives in significant positions. In October 2023, it launched WeWork Labs’ Investments, with the objective of becoming a hub of business creation throughout India. 
WeWork Labs Investments’ main objective is to support and give opportunities for India’s entrepreneurial ecosystem, new generation of founders, and potential startups. Some of the startups have the opportunity to apply for an early capital of $200,000 given by WeWork India. 
WeWork India’s fiscal year revenue was $4168.99 Million with an earnings per share of $30.18. Moreover, In May 2022, WeWork India announced the addition of two new people on board – Manoj Kohli who used to work in SoftBank India and Softbank Group International, as an independent Director; and Anthony Yazbeck, as the President and Chief Operating Officer.

WeWork Bankruptcy the WSJ Report: a Tale of Collapse and Hope

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