On January 6, 2023, WWE stock experienced a significant 20% surge following the announcement of Vince McMahon’s reappointment to the company’s board of directors. McMahon had previously resigned as CEO and chairman in June 2022 amidst allegations of sexual misconduct that were under investigation.
The investigation found that McMahon had paid $12 million to four women over the course of 16 years to keep quiet about allegations of sexual misconduct. McMahon denied the allegations, but he stepped down from his positions anyway.
McMahon’s return to the board was met with mixed reactions. Some investors were happy to see him back, while others were concerned about the allegations against him. However, the stock price spike suggests that investors are more optimistic about the future of WWE with McMahon back in charge.
It is still too early to say what impact McMahon’s return will have on WWE. However, the stock price spike suggests that investors are optimistic about the future of the company. It will be interesting to see how WWE performs in the coming months and years.
