Following months of speculation, Vince McMahon finally confirmed yesterday that the XFL will return in 2020 and that the WWE CEO will once again be in charge of the pro football league (which will be much different to the one we got in 2001). While you might think investors have already written off this apparent NFL rival, it seems Wall Street is fully on board with McMahon's business venture!
Despite the fact that the XFL reboot is owned by the separately funded Alpha Entertainment, WWE stock jumped just a share under 2% from the previous day’s close and that means Thursday marked the highest the company’s stock has ever closed the day on the NYSE. So, Thursday’s closing price for WWE stock was $34.13 and nearly the highest its ever been (that all-time high was $34.18).
Between this XFL announcement and rumblings that Fox Sports is interested in WWE, the signs are all pointing to big things coming for WWE and we can probably expect that to be reflected in its stock price moving forward. Needless to say, expect 2018 to be a very exciting year for the wrestling business!