WWE shares soared as Vince McMahon, CEO of World Wrestling Entertainment (WWE), announced new plans to expand his business reach. On Monday, WWE stock rose by 18% after McMahon announced that the company will be hosting live worldwide wrestling events every week.
McMahon said the event would feature the best athletes from around the world, including big names like Brock Lesnar, Roman Reigns, and The Rock. The event will also feature new talent that has never been seen before.
In addition, McMahon also announced that WWE would expand its business reach into the e-sports market. The company will hold e-sport tournaments in which teams from all over the world will participate, as well as broadcast the event live via online streaming channels.
Investors were excited about McMahon’s plan, which was seen as a smart move to expand WWE’s business reach and increase the company’s revenue. Some analysts also say that the plan could help WWE to compete with other streaming companies, such as Netflix and Disney+.
This recent advance has caused WWE stock to soar by up to 18% in one day, marking the biggest gain in years. Many investors are hopeful that the progress will continue, and that WWE stock will continue to rise in the coming months.