WWE Stock Drops After Vince McMahon Sells Shares of Company
It was previously reported that WWE Chairman Vince McMahon sold 3.34 Million of Class A Common Shares of Company Stock which is worth around $100 Million. After Vince McMahon sold these shares, WWE’s stock dropped by over 3% in after hours trading to about $30.80 / share. The SEC filing noted that Vince McMahon did the sale to fund a separate entity from the Company, Alpha Entertainment LLC, which Mr. McMahon established to once again possibly revive the XFL.
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