Connect with us

Hi, what are you looking for?


WWE stock jumped 20% on Friday: find out more

wwe stock rallies on vince mcmahon return

Shares of World Wrestling Entertainment Inc (NYSE: WWE) went up 20% on Friday after the media company reinstated former CEO Vince McMahon to the Board.

McMahon to pursue a possible sale

McMahon retired last year after allegations of sexual misconduct but retained significant influence on the entertainment company as its majority shareholder.

Returning as the executive chairman, McMahon now plans on chasing a possible sale.

Only way for WWE to fully capitalise on this opportunity is for me to return as executive chairman and support the management team in negotiations for our media rights and to combine that with a review of strategic alternatives.

World Wresting Entertainment Inc attributes most of its revenue to selling content rights. McMahon also elected George Barrios and Michelle Wilson (former co-presidents) to the board on Friday.

MKM Partners analysts react to the news

Vince McMahon also removed three board members – Alan M. Wexler, Jeffrey Speed, and JoEllen Lyons Dillon today. Additionally, Manjit Singh and Ignace Lahoud chose to resign as board members upon his return, effective Friday.

Reacting to the stock market news, MKM Partners said in a note this morning that it made “a lot of sense” for the Stamford-headquartered firm to explore an immediate sale. Analysts at the equity research firm currently rate the WWE stock a “buy”.

Their price target of $90 a share represents another 5.0% upside. In November, World Wrestling Entertainment reported its third-quarter results that came in well above the Street estimates.

WWE stock has rallied about 30% since December 28th.

The post WWE stock jumped 20% on Friday: find out more appeared first on Invezz.

You May Also Like


Inflation appears to be on the decline. The Personal Consumption Expenditures Price Index (PCEPI), which is the Federal Reserve’s preferred measure of inflation, grew...


Artificial Intelligence has been the buzz word in financial markets ever since Microsoft announced its multibillion-dollar investment in ChatGPT (read more). According to Futurum...


“I will make no apologies that we are investing to make America strong. Investing in American innovation, in industries that will define the future,...


Mimiq, Inc is announcing today the launch of their new product, Mimiq Track, at CES as part of their latest product line to operate...

Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2023