Global Economy

Revamped WeWork rises in Nasdaq debut

The office-sharing company WeWork made a strong Wall Street debut on Thursday, two years after a previous attempt disintegrated in spectacular fashion.

Shares of the venture, revamped with new corporate leaders, shot up nearly 10% to $11.39 shortly after midday, giving it a market value of about $9 billion.

The surge comes two days after shareholders from a specialpurpose acquisition company, or SPAC, called BowX voted to merge with WeWork.

Shares trade on Nasdaq under the ticker “We.”

Known initially for catering to young freelancers, WeWork has turned its focus more towards companies of more than 500 employees looking for space in urban centers.


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