WWE Stock Opens 17% Lower Than Closing Following Fourth Quarter 2019 Earnings Report

WWE released its fourth-quarter 2019 earnings report on Thursday morning and the results did not please the market. 

WWE stock was down 17% on Thursday morning, opening at $40.19. 

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The stock closed Wednesday afternoon at $49, which was up from $47.78 it opened at on Wednesday. In the post-market, the stock fluctuated, dropping to $47.03 at 4:10 p.m. ET before rebounding to $49.47 just ten minutes later. By 5:15 p.m. ET it was down to $48.27. In the pre-market prior to open on Thursday, the stock dropped below $40 at certain points.

WWE stock opened at $45.32 on Jan. 31, one day after Co-Presidents George Barrios and Michelle Wilson were fired by the company. The stock had closed at $62.31 on Jan. 30, marking a 27% overnight drop following the announcement that Barrios and Wilson had been let go. 

The stock was at $79.76 at this time last year. 

In the fourth-quarter earnings press release put out by the company on Thursday morning, WWE touted the highest revenue in quarter history at $322.8 million

At 11 a.m. ET, WWE will hold its quarterly financials call. Fightful will have live coverage of the call. 

 

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