WWE stock reaches its highest point in years, rise in Vince McMahon's net worth
WWE's market stock reached its highest price today since 2019, resulting in a rise in the net worth of Vince McMahon.
Wrestlenomics' Brandon Thurston on Twitter reported that the stock price for World Wrestling Entertainment, Inc on the New York Stock Exchange (NYSE) reached a high of $79.54 at 12 pm local time before closing in at $78.84 at the end of the day. This takes the company's market cap to $5.88 billion. This is the highest that the stock has been since April 2019, which came after the promotion signed a multi-billion USD deal with FOX to air SmackDown the year before.
"$WWE is up again today, outperforming indexes, currently at $79 per share, $5.88B market cap. Now its highest share price since overvaluations following the 2018 U.S. TV deal started to burst." he tweeted
Thurston also pointed out the effect of this rise on Vince McMahon's equity in WWE stock. The value of his 28.7 million shares in the company rose from $1.89 billion to $2.27 billion. That is a rise of 19%, equating to $367 million.
WWE stock is up 19% since Vince McMahon resigned on July 22. His equity in WWE (28.7 million shares) went from being worth $1.89 billion on July 22, to $2.27 billion today, an increase of $367 million.
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After the company's stock dipped below $60 after Mr. McMahon announced his retirement on July 22, it has been on a steady rise for the past 3 months.
Former WWE referee wants Vince McMahon to have a proper farewell
Former WWE referee Mike Chioda wants a proper send-off for Vince McMahon.
The former chairman officially resigned from all his posts in the company in July. This came after an investigation into accusations of sexual misconduct and misappropriation of company funds as 'hush-money.' Regardless, Vince's retirement came as a shock to almost everyone.
Chioda was a constant presence in WWE for his over three-decades spent in the company. Since his 2020 release, he has made several appearances for AEW and retired after officiating Ric Flair's last match at the namesake event on SummerSlam weekend earlier this year.
Speaking on his Monday Mailbag With Mike Chioda show, the legendary official expressed sorrow about Vince McMahon not receiving a proper sendoff from WWE.
“I’m sure he’ll come back, hopefully in another year or so or maybe next year at WrestleMania. Give it a little bit of time and then hopefully he gets the right send-off he deserves for running a major company and employing people like myself for 35 years.” [H/T - Wrestling Inc.]
Mike Chioda Expects Vince McMahon Will Get An Eventual WWE Sendoff 411mania.com/wrestling/mike…
Since the former Chairman's departure, Stephanie McMahon and Nick Khan have taken over as co-CEOs of WWE. While Triple H filled his position as the Head of Creative.