Four weeks ago, WWE stock had been well over $91 per share. Now after falling over $1 billion in market capitalization over the past month, it sits at only $75 per share. Today’s drop of nearly two dollars loss comes after the company’s Q3 financial report and the news that WWE Crown Jewel will be staying in Saudi Arabia as originally planned. Some stockholders thought the company would move the pay-per-view event after the Saudi government admitted to killing an American journalist, but that did not happen.
The stock hit a recent low of $73 earlier today, but rebounded to $75.68 before trading closed for the day. Yesterday the stock closed at $77.37, so it’s down slightly over 2%. Before the Crown Jewel announcement this morning, stock had climbed to over $79, but it clearly didn’t maintain that momentum.
If you do the math, the company has lost over $1.5 billion in market capitalization in the past month. While that is never good news, the $77 dollars that the stock currently sits at is still far higher than where it stood at the beginning of the year. WWE is still be looking at a huge gain in 2018 as its current 52-week low sits at $21.22.
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