This is the same bollocks Softbank played with Uber. Buying secondary shares at X, making a tiny investment at 2X, and then claiming the company is worth 2X. (It wasn't and it isn't.)
"Slashing its valuation in half" means reverting to X, the price around which WeWork last bought back shares. Even this reduced value is likely twice as high as it should be.
"Slashing its valuation in half" means reverting to X, the price around which WeWork last bought back shares. Even this reduced value is likely twice as high as it should be.