WWE Stock Takes Another Big Hit
Common Cents.
WWE have yet again suffered a drop in share price in the wake of last week's bombshell announcement of co-presidents George Barrios and Michelle Wilson leaving the company after a decade each in the role.
Stock closed on February 3rd at $46.08 per share after opening at $48.88, with WWE preparing to answer questions on this, the Barrios and Wilson departures and everything else during their fourth quarter/year-end earnings report and investor's call on Thursday.
The pair's exit was referred to as a "management transition" in the original WWE statement, but the effects were immediate. WWE's stock dropped 21.57% within 24 hours, with Bloomberg reporting that the company's market value dropped by $1billion in the process.
The company being required to comment so soon on such major moves should make for interesting reading. The always excellent Brandon Thurston noted last year that WWE was about to make less that 50% of all income directly from consumers for the first time in its existence. The metrics of accountability were changing, but said Q&A this week will put welcome pressure back into the lap of Vince McMahon.
More on this as it develops. In light of the aforementioned investor's call and Saturday's XFL rebirth, that's likely to be quite soon.