WWE stocks take a dive after Q4 2020 and year-end earnings report

WWE stocks took a dive on Friday after the release of the Q4 2020 and full year earning results, ending the week 12% down.

WWE had lower revenue in Q4 due to higher costs of television tapings at the WWE ThunderDome and the lack of the Saudi Arabia event compared to the previous year. But the company had a record 2020 year when it comes to revenue with a total of $974.2 million and a record $208.6 million in operating income.

Still, those numbers were not enough to please Wall Street, with WWE stocks finishing trading in after-market hours at $49.50. On Tuesday, stocks were trading at nearly $58.