WWE Stock Continues To Plummet After Vince McMahon Sells Over 3 Million Shares Of The Company

WWE’s stock continues to fall following the news of CEO Vince McMahon selling 3.34 million shares of the company worth around $105 million to fund Alpha Entertainment, and his rumored plans to relaunch to XFL or a new Football Entity all together. This all coming along with news of recently filed trademarks for the XFL, as well as “UFL” and “United Football League”.

All of this apparently comes off as a bad decision to WWE investors, as the move continues to effect value of WWE’s stock.

According to PWInsider.com, WWE stock was at $29.88 in premarket trading, which is down $1.99 from yesterday before the market even opened this morning.