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WeWork, which pulled its IPO in 2019 after a dwindling valuation and resignation of co-founder Adam Neumann, has reached a new deal to go public. The office-sharing company agreed on Friday to merge with special purpose acquisition company BowX Acquisition Corp. (BowX). The transaction values WeWork at $9 billion, a fraction of its one-time valuation of around $47 billion. (Reuters)
Online finance start-up SoFi is offering average investors a way to buy shares of companies as they go public. IPO shares have historically been set aside for Wall Street’s institutional investors, or high-net worth individuals. “Main Street will have access to investing in a way they wouldn’t have before,” according to SoFi CEO Anthony Noto. (CNBC)
* Robinhood building platform to allow users to buy into IPOs, sources say (Reuters)
GameStop (GME) shares jumped roughly 10% in Friday’s premarket, the morning after snapping a five-session losing streak and closing 52% higher. GameStop, the most high-profile “meme stock,” lost about a third of its value Wednesday after the video game retailer delivered disappointing fourth-quarter results, failed to give in-depth detail about its digital turnaround plans, and said it’s considering selling more stock. (CNBC)
The National Labor Relations Board told Tesla (TSLA) to make Elon Musk delete a tweet that was seen as threatening to labor organizers within the company. The independent federal agency also ordered Tesla to…
