WWE Stock Drops Following Announcement of Endeavor Sale

As previously noted, WWE had been sold to Endeavor, who will combine it with UFC to form a new company valued at $21 billion. Endeavor will own 51% of the company while WWE stockholders own 49%. That company will trade on the NYSE (New York Stock Exchange) as TKO. Bloomberg reports that the news of Endeavor acquiring WWE has resulted in WWE stock dropping more than it has in the last two years.

WWE closed on Friday at 91.26 and opened today at 85.60. It is currently trading at 86.50.

Meanwhile, Endeavor closed at 23.93 on Friday and opened today at 24.49. It is currently trading at 22.30.