Vince McMahon Lost 'Millions and Millions' In WWE Stock Stock Drop

WWE recently revealed their third-quarter 2019 earnings which didn't make for great reading.

The big news coming out of the report is that net income dropped 83%, and forecasts for growth were also down. 

The news was not received well by shareholders and the stock took a tumble by 16% to $56.04.

Revenue is the leading factor for the tumble with the company making $186.3 million compared to $188.4 million for the same quarter int he year previous.

There are also other areas that are also being cited as reasons for the stock fall, such as a delay in a Saudi Arabia television deal and the expected fall in WWE Network subscribers by 10% in the fourth quarter. 

In real terms, Vince McMahon lost a whopping $296.5 million on paper due to the WWE stock drop.

$296.5 million: What Vince McMahon lost on paper yesterday from WWE’s huge stock drop.

— Darren Rovell (@darrenrovell) November 1, 2019