There are a lot of wrestling puns going on right now about this story, but I think it can be basically summed up in this video.
Guyism has the particulars via Forbes.
WWE and NBC Universal announced a pending TV deal yesterday but monetary and length details were withheld. Investors acted accordingly and now WWE stock is dropping faster than John Cena’s popularity.
Even though WWE chairman and owner Vince McMahon talked up the deal like a PPV match, the pending deal failed to impress. The biggest issue — according to Forbes — is the albatross that’s dubbed the WWE Network.
The stock’s losses have also had a body-blow impact to Vince McMahon’s personal wealth: according to the FORBES real time wealth tracker, McMahon has lost $357 million, nearly a third of his fortune, since Thursday’s closing bell.
They are going to blame Daniel Bryan for this.