Investors continued to lay the smackdown on WWE stocks as the company lost a further 4.5% of its price in the first couple hours of trading today. Since late last week, WWE shed a whopping 30% of its value in a bloodbath that shows no signs of stopping.
Things will most likely get even worse later on in the week as WWE presents its Q4 and 2019 full year results. They already lowered the outlook and Vince McMahon will get to face investors during the conference call and this time he won’t have his once-trusted co-Presidents with him.
George Barrios and Michelle Wilson, two of the most powerful people in the WWE, were fired last week by the Board of Directors. The news sent the stock down 24% by the end of the week.