WWE is currently rumored to be posting a poor or below expectations financial report this Thursday, according to PWInsider.
The report stated in a recent filing to the SEC, WWE revealed several of their top executives sold off chunks of their stock days before the fiscal second quarter report’s release. Kevin Dunn sold off the most at 83,737 shares which earned him around $1.728 million.
Others who sold off sizeable shares were Michelle Wilson (81,951), George Barrios (81,856), Michael Luisi (13,601), Stephanie McMahon and Paul Levesque (10,417 each). At the time of the sales, WWE’s stock was worth on average $21.29 per share.
In terms of business, this is usually seen as a bad sign when it occurs very close to a fiscal report’s release and a sign WWE’s stocks might be taking a bit hit this week. Since the SEC was made aware of these sales, very likely none of the executives will be hit with possible insider trading charges which is also a common occurrence in these types of business situations.
Source: PWInsider
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