The world is concerned about coronavirus. Things are getting very complicated as the planet is slowly shutting down all events. WWE could be forced to cancel WrestleMania for the first time ever.
Wall Street is in chaos. Stock prices are falling and investors are nervous. They needed to freeze trading this morning for fifteen minutes in order to sort things out a bit. WWE stock isn’t doing all that well either.
Yahoo Finance covered WWE’s current financial situation in the face of the coronavirus. The second quarter of 2019 saw WWE making a profit of $268.9 million, $48.8 million of that was from live events including WrestleMania. 18.1% of the company’s expected income might not be coming in now.
The “silver lining” was pointed out that WWE investors are already dealing with a stock that was on the decline. After WWE axed Co-Presidents Michelle Wilson and George Barrios the stock price plunged. This might make a potential WrestleMania cancellation not sting as much.
As investors brace for news of a potential cancellation of WrestleMania 36 and all other WWE live events, the silver lining at this point for investors may simply be how far WWE shares have already fallen.
As of this writing, WWE’s stock is already down 24.3%, falling nearly 63.2% over the past year. WWE stock continues to fall, but at least it wasn’t doing all that well before this whole COVID-19 situation took over.