WWE stock today closed at $87.20 per share. That’s above the previous close of $86.68 and where it opened at $86.95.
Multiple business outlets are sharing the story about WWE's stock dropping.
On the most recent episode of Last Week Tonight with John Oliver, the host covered WWE for 23 minutes and he particularly took aim at WWE Chairman Vince McMahon -- stating that Vince is an "a**hole" and mentioned how WWE superstars are signed as independent contractors instead of full-time employees and further expressed his thoughts about WWE not providing health insurance benefits to their employees. As this news made the rounds and reached the mainstream audience, WWE shares have dropped 2.9 percent and on top of that, according to 'The Fly', Cannonball Research analyst Vasily Karasyov downgraded WWE from "Buy" to "Neutral" with an $88 price target.
Multiple business outlets have shared the news about WWE's shares dropping following John Oliver's criticism and WWE recently released a statement about Oliver's segment and invited him to WrestleMania 35 on Sunday to get the true details about how they operate:
John Oliver is clearly a clever and humorous entertainer, however the subject matter covered in his WWE segment is no laughing matter.
Prior to airing, WWE responded to his producers refuting every point in his one-sided presentation. John Oliver simply ignored the facts.
The health and wellness of our performers is the single most important aspect of our business, and we have a comprehensive, longstanding Talent Wellness program.
We invite John Oliver to attend WrestleMania this Sunday to learn more about our company.
A number of wrestlers and those within or formerly in the business have commented on the John Oliver story such as Adam "Hangman" Page, Joey Janela, CM Punk, Jim Cornette and Lance Storm. As more information comes to the forefront about what unfolds next from this story, we will update you here on Fightful.