WWE News

WWE Stock Price Falls 5% During “Market Carnage”

WWE stock price

WWE stock dropped 5.24% on Monday, across a day of losses in the US markets.

Since the start of the year, WWE’s stock price had risen 24% following strong Q4 2021 and Q1 2022 financial reports, encouraged by a record-breaking WrestleMania weekend. The company’s recent first quarter 2022 report announced a record 156,352 fans attended WrestleMania’s two-night extravaganza, making it the highest grossing and most-attended event in their history.

Announcing the results, WWE Chairman & CEO Vince McMahon said:

“We are off to a strong start in 2022, highlighted by record quarterly revenue and Adjusted OIBDA.

We continued to effectively execute our strategy, including staging the most stupendous WrestleMania ever in early April.

We continue to monetize our intellectual property across various platforms through our media rights agreements, both domestically and abroad, as well as through the monetization of new original series, including our expanded partnership with A&E.”

Monday’s downturn reflects the overall trend in the US markets, with the S&P 500 Index seeing its biggest three-day decline since March 2020 at the start of the coronavirus pandemic.

The WWE stock price fell to $55.51 by market close.

However, it’s been stated that investors have many reasons to feel ‘bullish’ about the stock. Recently, WWE has signed deals with A&E to produce 130 hours of original content, and Fanatics to establish a new e-commerce platform alongside licensed merchandise, physical and NFT trading cards. The company have also announced plans to ramp up live events both domestically and abroad.

In June 2021, the company’s stock was targeted by ‘meme stock’ traders following a trending post on r/WallStreetBets subreddit highlighting several factors for a “low-risk, high-reward play”. Shortly after the price of WWE stock rose by 10% in premarket and peaked at $70.72 – a rise of 20% – before dropping back to $64.48.