WeWork raises 'substantial' doubt about its future as shares tumble and board members step down

WeWork said it was still continuing its search for a permanent CEO and that it had added four board members after three members stepped down.

WeWork raised "substantial" doubt about its ability to continue as a going concern and said three board members had stepped down, sending its shares down 27% in extended trading.

The workspace provider also issued a warning that its management needed to raise additional capital to keep the company afloat and maintain liquidity over the next 12 months.