WWE Stock Continues To Drop Following Vince McMahon News, Hits Lowest Numbers of

[Liz]

As you might have heard, Vince McMahon stepped down as the chairman and CEO of WWE, pending an investigation by the board into alleged payments he made to an employee he had an affair with. The stock for the company dropped initially when the announcement was made and has continued to drop steadily since. It has hit some of the company's lowest stock prices of the year. It did rise briefly after the news that Bruce Prichard has taken over John Laurinaitis' duties, but then closed with the lowest number since May 9. Wrestling Inc provided the following statistics:

June 15 (3:00 p.m. ET) – $68.35 (before allegations)

June 15 (4:00 p.m. ET) – $67.52 (after allegations)

June 16 (9:00 a.m. ET) – $65.83 (morning after allegations)

June 16 (4:00 p.m. ET) $64.86 (after XFL settlement)

June 17 (11:00 a.m. ET) $62.23 (after McMahon steps down)

June 17 (4:00 p.m. ET) $62.51 (after McMahon announced for SmackDown appearance)

June 21 (9:00 a.m. ET) $62.09 (after McMahon RAW appearance)

June 21 (1:00 p.m. ET) $62.58 (after Laurinaitis replaced)

June 21 (4:00 p.m. ET) $61.01 (closing number)

At the time of this writing, WWE stock is currently trading at $60.97, an even lower number.