WeWork stock climbed in its first day of trading Thursday, two years after its efforts to launch an initial public offering crashed.
The flexible-workspace company went public through a merger with BowX Acquisition, a special purpose acquisition company, with the SPAC combination operating under the WeWork name and trading under the ticker symbol “WE”.
WE shares on the New York Stock Exchange rose 9% to an intraday high of $11.30 on Thursday after picking up from BowX’s closing price on Wednesday at $10.38 a share. WeWork stock later pared the advance to 7.9%.