WWE is scheduled for their second-quarter financial earnings call on Thursday, but Vince McMahon and other top WWE executives decided to get rid of some stock July 22nd when the stock was at around $70.
This is a very interesting situation, but it shouldn’t be a big surprise. Because WWE executives unloaded a ton of stock when the price was much higher last year. Interestingly enough, this occurred weeks before the price plunged.
WWE’s stock price could take a huge hit as soon as investors don’t buy McMahon’s latest excuse for poor performance. So according to SEC filings, McMahon unloaded 12,672 shares at $70.23 a piece for $889,954.56.
In another interesting note, WWE promised to buy up $500 million of their own stock as well. We have yet to see that come to fruition just yet.
Here’s the list of SEC filings and what WWE executives sold this week: