In five days, shares of the sports entertainment company World Wrestling Entertainment WWE (NYSE: WWE) have risen from about $68 to as much as nearly $94 after Vince McMahon returned to WWE as executive chairman.
While on Wednesday the stock slightly retreats from the highs on rumors that WWE had been sold to Saudi Arabia’s Public Investment Fund. The reports emerged hours after Stephanie McMahon announced her resignation. WWE has had programming in Saudi Arabia since 2014 and started televising special events there in 2018.
Check out the technical outlook of WWE stock here - https://gulfbrokers.com/en/wwe-stock-is-on-fire-and-aiming-for-the-100-mark