WWE Shareholders Start to Worry
As I reported back in early October, the WWE shareholders are losing faith as the days go by. Despite the success of WWE #Evolution, the shareholders are more concerned with #WWE Crown Jewel. #CrownJewel has been on the lips and minds of not only performers but politicians as well.
Daniel Bryan and #JohnCena have already bowed out of their appearing at Crown Jewel, as the political scandal grows. Bryan and Cena are trying to distance themselves as much as they can, and they are wise to do so. Since the plea from US Senators to WWE NOT to go to Saudi Arabia, the stock has done nothing but nosedive. As of October 13, 2018, in my article, ‘U.S. Senators Ask WWE NOT to go to Saudi Arabia’ (Which you can read HERE)
The stock WAS at a solid $82.00 a share. In the first two weeks of October, WWE lost a total of $1 Billion dollars in market capital. At the time, Financial analyst Chris Harrington, predicted that the stock would average out to a $60.00 per share model.
In-between October 13 and October 25, 2018 stock went from $82.00 to $75.00
So, in 2 weeks, it dropped a total of $7.00 per share. The very next day, on October 26, the stock closed at $69.00 per share. That means that in a span of 12 days (2 weeks-ish) the stock dropped $13.00 – That is a loss of $1.00 loss per day. As of writing this article on October 30, 2018, the stock is sitting at $66.16 per share.
In 17 days, the stock has dropped a staggering $16.00 – continuing the loss of $1.00 per day. Now, the trend will obviously continue, but, now shareholders have to think about the AFTER- EFFECTS of Crown Jewel. Will this whole thing leave a bad taste in the mouth of investors? Most likely, yes. This is a perfect illustration of how WWE is not afraid to go against their shareholders in the most dangerous of financial situations.
If the stock steadies after Crown Jewel, I will be surprised.
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