WWE stock plummeted following the dismissal of the company’s Co-Presidents. The stock has gone up a bit in the past few days. It’s not because of any impending streaming deal.
Vince McMahon revealed during the 2019 4th quarter investor’s call that the company was talking to some big time players about selling streaming rights to their big pay-per-view events. It was said that a deal was so close that they’d be announcing something during this quarter.
Dave Meltzer reported that WWE is talking very seriously with ESPN about selling to ESPN+. WWE stock went up a over $2.50 since that story broke, but the two aren’t related.
Our source on Wall Street said to us: “Some idiot writing out of a garage isn’t influencing the market.”
WWE stock was going to gradually drift back up. This is what is going on. We’ll have to see how far it goes up before it settles.
If/when a streaming deal is actually announced then we’ll take a closer look to see how that might change things.