TKO Stock Drops Following Acquisition Of Endeavor Businesses

TKO saw its stock drop on Thursday after it announced the acquisition of three businesses from parent company Endeavor. As reported earlier, the company announced that it was picking up Professional Bull Riders, On Location and IMG from Endeavor in a “strategic acquisition.”

TKO’s stock took a hit in the wake of the announcement. At the time of closing at 4 PM ET, the stock was at $115.00 which was down $11.00 (8.73%) from the opening price. It has gained $0.70 (0.61%) to $115.70 in after-hours trading as of this writing.