WWE News: WWE shares at an all-time high after XFL announcement
What's the story?
Vince McMahon made a huge announcement on 25th January when he said that his company, Alpha Entertainment, would re-launch the XFL, a professional American football league.
Also Read: WWE News: Recap of Vince McMahon's press conference for the return of XFL
Following the announcement, WWE's shares hit an all-time high of $34.
In case you didn't know...
The original XFL was founded in 1999 and lasted just one season - the solitary 2001 season. The company apparently made a loss of around $35 million and NBC had to cut their two-year contract.
Vince McMahon was still the owner of the XFL brand name and there was widespread speculation about the return of the football league in the past few weeks, with even Triple H commenting about the football league.
The heart of the matter
Eric Jackson, a noted commentator on technology and media, noted how the WWE's share price closed at $34.13, an almost 2% rise, with a market cap of $2.63 billion.
The WWE's stock has risen considerably in the last few months, increasing by a massive 58% in the past three months.
McMahon had sold shares worth almost $100 million in December, which signalled the re-introduction of the XFL.
Also Read: WWE chairman Vince McMahon to resurrect XFL, Manziel hints at involvement
What's next?
The XFL will have eight teams and 40-man active rosters but there's not much that's known about the league.
Also Read: WWE News: Finn Balor's response to Vince McMahon's XFL announcement
Vince McMahon himself announced that they will take some time to develop the league and learn from their previous mistakes.
Author's take
I am not a fan of American football but I do hope that WWE and Vince McMahon don't make the same mistakes that they did previously.
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