WWE’s stock is currently trading at $84.50, down from yesterday’s close of $98.54.
That is almost a 15% drop which if my math is correct, means the company has lost over $1 billion of market cap.
This follows on the heels of WWE’s Q1 results being released this morning, where the company missed targets and reported lower revenue, net income and operating income compared to Q1 2018.
Vince McMahon blamed the results on talent “absences” which he said contributed to weaker storylines and live events and ratings numbers.
He cited that everyone is back healthy now and coupled with changes on the writing and live events teams will lead to better results for the rest of the year.
You can find their quarter one highlights for 2019 HERE.