WWE News: WWE Stock Down To $75

After today’s announcement that Crown Jewel will continue as planned in Saudi Arabia, WWE stock fell to $75 a share, rebounding after falling to $73 a share earlier in the day. Many shareholders felt that WWE would pull out of Saudi Arabia and move locations for the upcoming pay per view.

A month ago, shares were valued at $91, so this is a significant drop in the last month. The company has lost over $1.5 billion in market capitalization over the last month. However, WWE still looks to get a large financial gain this year as the 52 week low for shares was $21.22

Jason’s Take
I’m sure you have read plenty of commentary and opinions over the last week to two weeks about WWE as it pertains to Crown Jewel. The deal with Saudi Arabia is a very lucrative deal for Vince McMahon and the WWE, and McMahon has made some head scratching business decisions in the past. While I’ve never been in the shoes of Vince McMahon, its hard to say if the decision to continue on is the right one. I think McMahon should have though more with his head than with his pocketbook. Hopefully, all involved will be safe during the trip, and I would understand why some may not want to attend.