WWE Stock Takes Another Hit Today, WWE SmackDown Launch Partially Blamed For FOX Loss

WWE stock dropped below $40 per share in pre-market trading earlier today as the Q4 and full-year 2019 financial report was released, which you can read at this link.

WWE stock opened at $40.24 per share today, after closing at $49.00 per share on Wednesday. Stock is currently trading at $43.18 per share, down 11.88%.

The stock went as high as $100 per share in the last year. The previous 52-week high is $100.45 per share.

As noted, the stock first took a major hit last Friday as WWE announced the departures of Co-Presidents George Barrios & Michelle Wilson. That drop saw the company lose $1 billion in market value in one day.

On a related note, Broadcasting & Cable reports that FOX reported higher earnings in Q2 with revenue up 5%. However, the FOX TV group had a loss of $214 million, up from a $14 million loss one year ago. It was noted that the launch of WWE SmackDown, higher NFL costs, and higher programming rights amortization at Fox Entertainment led to that loss. Revenues were up 5% to $2.17 billion, with affiliate revenues up 18% and ad revenue up 2%.