WWE Stock Reportedly Went Up Due To Subreddit Interest

It was noted earlier today that WWE stock had hit a 52-week high and at the time of this writing, it was up 12.31% on the day and trading at $65.31 per share, but went as high as $70.72 this morning. It opened at $63.01 per share and has stayed above $62.99 so far. Pre-market trading was up 10% at one point.

According to Wrestlenomics, this was due to interest from the WallStreetBets subreddit. If that name sounds familiar, it’s the subreddit that was in the news for making huge spikes in the stocks for Gamestop and AMC, among other companies. A post in the subreddit ended up trending on the site and made the suggestion to buy WWE stock options.

At one point stock was up 16% this morning, which the value of Vince McMahon’s ownership (nearly 29 million shares), was almost $300 million more valuable than yesterday.

Who knows where this is going, but for those who love this stat…

With WWE stock up 16% currently, the market value of Vince McMahon's ownership (nearly 29 million shares) is currently almost $300 million more valuable than it was yesterday.

— Brandon Thurston (@BrandonThurston) June 9, 2021