Following the shocking news that WWE CEO Vince McMahon would be stepping down from his role effective immediately, WWE share prices have dropped as the market opened for trading on Friday June 17th.
Prior to the market opening on June 17th, WWE share prices sat at $64.87 up an impressive 10.5% from the previous year. However, following the news that WWE CEO Vince McMahon would be stepping down from his role whilst under investigation for misuse of company funds, share prices would today drop 2.86% from $64.87 down/up to $63.01.
WWE has over the course of 2022 outperformed the overall market growing over $10 in value despite the impending recession and the S & P 500 officially entering a bear market.
Over the past 52 weeks WWE’s share prices have ranged from $45.90 to $68.60 having returned a one year growth of 10.41% an incredible 30.48% above the S & P 500 annual return and 31.5% above the NASDAQ100 during the same period.
WWE’s all-time high share price came on April 23rd, 2019 when the price soared to $99.25, having dropped 34.6% since then prior to todays market opening.
Despite the uncertainty around the WWE, many investors are viewing the stock as a ‘buy’ property with 40% of MarketBeat advisors suggesting a buy on the stock at its current price and the remaining 60% suggesting a hold instruction on any owned stocks with a target high sale price of $82 still identified.
At 13:00, just 90 minutes prior to the US Stock Market opening – Market Watch listed the pre-market value of WWE shares at $66 – up 1.74% from the previous night.
All stock data accurate at time of writing, Inside The Ropes is not a financial instruction and nothing within this article should be considered financial advice. ITRWrestling.com and Liam Alexander-Stewart would advise readers to do their own due diligence before making any investments relating to the WWE or any trading in general.
Inside The Ropes will continue to bring reliable updates on the unfolding’s from within WWE as they become available.