After shedding more than 25% of its value, WWE stocks took a further beating following Thursday’s earnings report and yesterday closed nearly 5% lower, ending the day and week trading at $42.93 per share.
To say it’s been one hell of a horrible week for shareholders is an understatement as the news of the firing of both WWE Co-Presidents George Barrios and Michelle Wilson rocked the corporation and Wall Street didn’t react too kindly. Besides that, the Q4 2019 and year-end results looked pretty awful and even WWE admitted that it’s unclear about their 2020 outlook.
Three financial companies also cut the WWE stock price target, driving stocks even more to the ground. MKM Partners slashed the price from $92 to $58, Benchmark slashed it from $79 to $57, and CFRA cut it from $60 to $48.