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Trading in WeWork shares halted amid reports of possible bankruptcy filing

Investing.com -- Trading in shares of WeWork Inc (NYSE:WE) was temporarily halted on Monday, according to an announcement from the New York Stock Exchange.

The news comes after reports suggested that the co-working space provider would file for bankruptcy as soon as this week. Shares tumbled by about 66% last week and have now shed about 99% of their value this year.

Citing people familiar with the matter, the Wall Street Journal first reported that WeWork -- the flexible office space venture founded by Adam Neumann and backed by SoftBank (TYO:9984) that was once valued at $47 billion -- was considering filing for bankruptcy in New Jersey. Reuters also reported the story, citing an unnamed source.

WeWork declined to comment to both news outlets.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.