With Vince McMahon Out, Is WWE Stock a Buy?
The price of WWE (NYSE: WWE) stock jumped this week after longtime chairman and CEO Vince McMahon resigned from the professional wrestling company amid allegations of improper payouts for alleged sexual misconduct.
Unlike the rest of the stock market, WWE stock is booming in 2022, with its shares up about 40% year to date. As the company enters uncharted territory, here is one reason for skepticism and another for optimism that its stock can reach new highs.
Vince McMahon served as chairman and CEO of WWE for 40 years, revolutionizing the professional wrestling industry by transforming what was once regionalized promotions into a global enterprise worth over $5 billion today. Recently, he came under fire for allegations of sexual misconduct, and McMahon finally resigned when the company discovered $14.6 million worth of unrecorded payouts.
Source Fool.com
