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.
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.
