The news of Vince McMahon’s WWE return is a huge story for the wrestling industry, and what this means for WWE’s future is anyone’s guess. What is certain is that many people within the company are shocked by the recent events.
His return “pretty much shocked everyone we have spoken with,” PWInsider reports. Other than those in his inner circle, it appears that this caught most people in the company off guard, and many are left wondering what will happen next.
Morale in the company is said to have improved significantly since McMahon stepped down last July. According to PWInsider, some people have expressed “they want out” if McMahon returns. We’ll see what happens now that he’s back, but one has to wonder if some people will be let go, given that Triple H has brought back a lot of names who were let go when Vince was in charge.
“Vince is exercising ultimate control. Everyone in WWE is still processing that he did,” according to Mike Johnson of PWInsider.
WWE sent out an alert to employees announcing an “all hands on deck” meeting later this afternoon. This is most likely connected to Vince’s return to the WWE Board of Directors. We may know more about Vince’s plans by then.
As after-market trading was up on Thursday evening, we noted how Wall Street reacted to Vince’s plans for a return and the potential sale of the company. WWE stock opened at $70.31 and closed at $72.04, but it was up 11.40% in after-hours trading, reaching $80.25 per share around 10pm. The 52-week high at the time was $81.63.
In an update, WWE stock opened at $80.05 per share this morning and is now trading at $84.85, up 17.78%. Trading was temporarily halted this morning for the announcement of Vince’s official return to the WWE Board of Directors, and the stock hit a new 52-week high of $86.00.
Stay tuned to PWMania.com for more.
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