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In a story that is worth following, the stock for WWE has dropped quite a bit today, dropping all day today since opening.
Yesterday, 8/30, the stock opened at and closed at $110.05. Today, the stock has dropped, as of this writing, down $12.90 to 97.50 as of this writing.
SeekingAlpha.com is reporting the stock drop is part of a ripple effect of a Saudi Arabian investment fund investing in UFC competitor the PFL, The Professional Fighters League, a group that recently ran the Theater in Madison Square Garden.
Endeavor, which is acquiring WWE officially next month, also saw their own stock drop as well.
While MMA is obvioisly well outside of WWE's realm today, in a few weeks when the company is reborn as TKO, it will be part of the overall business, so investors are reacting to money being put into a TKO competitor, although the PFL's current market reach is well below UFC.
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