WWE stock SOARS by nearly 10 per cent adding millions onto its value after Vince McMahon retirement and Triple H return
WWE’S stock has shot up by almost 10 per cent after Vince McMahon’s retirement and Triple H’s return.
McMahon, 76, rolled credits on his career, which marked the end of an era that saw him dominating the world of professional wrestling ever since he bought the company in 1982 from his father Vince Sr.
The American businessman stepped down after allegations of sexual misconduct and reports he paid several women millions in hush money between 2006 and 2022.
The 76-year-old will continue to be the company’s majority shareholder but has stepped down as Chairman, CEO and head of creative.
McMahon has been replaced by his son-in-law and wrestling legend Triple H, 52, in creative.
The 14-time world champion will be tasked with building out storylines and developing characters on RAW and SmackDown.
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According to Fightful’s Sean Ross Sapp, this development boosted WWE’s stock as it rose by 9.51 per cent and added millions onto its value.
Sapp tweeted: “WWE stock has already shot up 9.51% today following the news of Vince McMahon’s retirement and Triple H heading creative.”
Triple H was in charge of creative in WWE’s developmental brand NXT for eight years until he stepped down in September.
NXT attracted immense popularity thanks to the ex-WWE Champion, who played a critical role in the rise of stars like Becky Lynch, Kevin Owens, Charlotte Flair and many more.
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The Game suffered a cardiac event 10 months ago and subsequently stepped away from WWE before announcing his retirement from in-ring competition in March.
Triple H returned last week as executive vice-president of talent relations before McMahon’s retirement, which led to his daughter Stephanie succeeding him.
She will be in charge as chairwoman and co-CEO alongside co-CEO Nick Khan.