WWE stocks shoot up 13% following Smackdown deal announcement

 
 

WWE stocks received another huge injection today – twice, actually – following the news that FOX is mighty close of inking a deal to carry Smackdown for five years starting in October 2019.

After the ESPN report came out that WWE and FOX have reached an agreement in principle, stocks shot up to $54 after trading for most of the day at the $51.80 range. But then, after The Hollywood Reporter added to the story that the deal is over a billion dollars for five years, stocks went up to $57 and are now trading in the $58 range at time of this writing, around 13% higher than Friday’s closing.

The new all-time high is $59.45 which was achieved at around 2:40PM EST and WWE now has a market cap of nearly $4 billion.