WWE Stock Prices Close at All-Time High; How Did Vince McMahon’s XFL Announcement Effect Numbers?
WWE stock officially closed this Thursday at $34.13 per share, up a fairly significant 1.91%. This is the highest number WWE stock prices have seen since the company first went public in 1999.
Thursday’s number was a crucial test for WWE shareholders, as Vince McMahon officially announced the relaunch of his XFL football organization after selling $100 million of his stake to get the ball rolling. Many had anticipated prices falling with the 72-year-old CEO now splitting his energy between two very expensive, very time-consuming endeavors.
It’s also worth pointing out that WWE is heading into Royal Rumble weekend which means big business for the company, and it’s fairly common for stock prices to rise heading into WrestleMania season. Still, the fact that confirmation of the XFL’s return – considered Vince McMahon’s worst financial and professional embarrassment – didn’t tank this week’s strong numbers is a very good sign.
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