WWE Stock Takes Big Hit After Company Announces Significant "Management Transition"

WWE Stock Takes Bad Hit Following Significant “Management Transition” Announced By Company

It doesn’t look as though the investors and stockholders are showing much support of the decision made by the Chairman of the Board this week to release longtime Co-Presidents Michelle Wilson and George Barrios in favor of a significant “management transition” behind-the-scenes in WWE.

WWE announced a major, and somewhat shocking, change to their leadership team this afternoon by declaring that Co-Presidents Michelle Wilson and George Barrios were out of the company effectively immediately.

Both had been with WWE for a number of years but it seems clear that the 2019 full year and fourth quarter results (set to be announced next week on 2/6) probably will not meet expectations, prompting Vince McMahon to make this change.

The sudden change obviously spooked investors as the WWE stock fell sharply in after-hours trading.

The company made the announcement after the markets had closed when the stock was at $62.30 but when the news became public, the stock plunged going as low as $47.80 but rebounding slightly to $49.00 as of this writing.

We will keep you posted here at eWrestling.com as the fallout from today’s major WWE corporate announcement continues!

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