World Wrestling Entertainment, better known as WWE, is in the midst of some big things lately, with the program WWE SmackDown appearing on FOX for the first time last month. However, this excitement is overshadowed by significant financial setbacks. The company has experienced a dip of more than 14 percent on the stock market, driven by disappointing financial news. The biggest loser in this scenario is head honcho Vince McMahon, who is estimated to have seen nearly $300 million drop from his personal net worth tied up in his company's stock.
McMahon reportedly owns about 41 percent of outstanding WWE stock, making him particularly vulnerable to these considerable fluctuations in value. As of this writing, WWE stock sits at $55.96 per share, having dropped more than $11 just a few days ago. The steepest decline occurred on October 31st, when WWE stock diminished by more than $9 per share overnight, highlighting the volatility of the market and the pressures faced by the organization.
WWE's stock has faced challenges amid a wave of bad financial news for the company in Q3 2019. North American ticket sales are down 18 percent, and online merchandise sales from the WWE Shop have dropped by 16 percent. Additionally, the streaming platform WWE Network has lost around 20,000 paid subscribers compared to the average. Reports have also surfaced about potential disputes between McMahon and the Saudi Arabian government affecting operations, which has left several talents stranded after the Crown Jewel pay-per-view event. Wrestling reporter Bob Ross commented on Twitter, stating, “There were rumors among talent that Vince McMahon got in some kind of disagreement in Saudi Arabia, though I haven’t been able to fully confirm that…Also, I heard nothing of it being politically motivated. This aspect is a rumor at this point.”
Much like a professional wrestling storyline, the stock market is known to fluctuate unpredictably, so it’s possible that WWE and McMahon will be able to regain their lost ground in the near future.
