WWE stock launched to near 3-year high after upbeat sales outlook, co-CEOs named

Shares of World Wrestling Entertainment Inc. shot up 5.9% toward fresh post-pandemic high in morning trading Monday, after media and entertainment company provided an upbeat third-quarter sales outlook. The company also disclosed that it appointed Stephanie McMahon and Nick Khan as co-chief executive officers, following the announcement of Vince McMahon’s retirement on Friday. Separately, the company said it expects second-quarter revenue of $328 million, up from $266 million a year ago and above the FactSet consensus of $311.9 million. The stock, which is on track for the highest close since Oct. 17, 2019, has soared 42.1% year to date, while the S&P 500 has declined 16.8%.

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