WWE stock has gone down significantly since yesterday, following the announcement of WWE and NBC's new TV rights agreement. As of just a couple of hours ago, the WWE stock had dropped to $10.34 in pre-market trading, down $9.59 from yesterday. That's down 48.12%.
PWInsider.com cited comments that Vince McMahon made during last year's WWE conference call as the reason for the major slide. McMahon told investors that the new TV rights deal would at least double. Apparently, it only increased by 25%, and Wall Street doesn't seem to be too happy about it.
There has been further concern on Wall Street regarding the WWE Network making up for lost PPV revenue.
We'll keep you updated as the day continues.
