Another rough day for World Wrestling Entertainment as company stock dropped another 5.9%, following Friday morning’s plummet triggered by the removal of former Co-Presidents George Barrios and Michelle Wilson.
WWE stock opened at $48.96 on Monday morning, just under Friday’s close. While there was an initial jump to start the day, numbers continued to fall consistently into the afternoon, closing at just $46.08.
Numbers may continue to dip a bit more throughout the week, heading into Thursday’s Q4 2019 earnings report where Vince McMahon is expected to announce a full-year operating income total well under projections.
Today’s more severe drop may have been heavily influenced by the reports of several market experts, including an analyst from Morgan Stanley who downgraded his position on WWE stock and raised questions about company projections, as well as McMahon’s active participation in managing the XFL.
Update: WWE stock opened at $46.61 on Tuesday, February 4th.