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WeWork shares closed below 50 cents on Wednesday, pushing the coworking space operator's market cap down to just $334 million.

The big picture: On Tuesday, WeWork disclosed that it received a noncompliance notice from the New York Stock Exchange because of its flailing stock price. 

It has six months to regain compliance before possible delisting.

For context, WeWork founder and ousted CEO Adam Neumann last year raised $350 million (at a $1b post-money valuation) for his new real estate startup from Andreessen Horowitz. 

Moreover, WeWork itself was once valued at $47 billion by its venture capital backers.

WeWork shares fall below 50 cents

The company's market cap is less than what ex-CEO Adam Neumann raised for his new startup.

WeWork

WeWork shares closed below 50 cents on Wednesday, pushing the coworking space operator&#x27;s market cap down to just $334 million.The big picture: On Tuesday, WeWork disclosed that it received a noncompliance notice from the New York Stock Exchange because of its flailing stock price.

After a record economic expansion, the coronavirus pandemic sent the U.S. economy into a recession as unemployment soared to staggering heights. The country now faces urgent questions about how much stimulus is needed for reeling consumers and businesses, and what a recovery might look like.

WeWork shares fall below 50 cents

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