WWE stocks tanked today with the rest of the market, plunging a further 13% to a low of $31 at time of this writing.
This is the lowest that WWE stocks traded since December 2017 and down from the $100 high from September 2018. While stocks were already volatile over the past two quarters, the coronavirus hit was another nail in the proverbial coffin.
With live event attendance dwindling, Network subscriptions falling, events taking place in empty arenas, and the possibility of WrestleMania not taking place as scheduled, it’s the perfect unwanted storm. But while the company is financially sound and they can ride this, Wall Street is very, very unforgiving.