Prior to the news of Vince McMahon’s alleged affair leaking online, WWE’s stock increased big time today.
The company’s stock rose to $67.18 when trading closed on Wednesday. At one point during the afternoon hours, the stock was at $68.73. The closing price was up $3.17 (4.95%) from Tuesday’s closing price of $64.01.
The $67.18 price marks the highest WWE’s stock has been since October of 2019.
According to a report from Wrestlenomics’ Brandon Thurston, the reason for this is likely because Morgan Stanley analyst Ben Swinburne raised the target price of WWE’s stock from $60 to $75.
It’s worth noting that in after-hours trading, WWE’s stock was down to $66.90.
Morgan Stanley analyst Ben Swinburne this morning raised price target on the stock from $60 to $75, which probably has a lot to do with what's moving the price today.
— Brandon Thurston (@BrandonThurston) June 15, 2022
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