PWInsider has recently published an interesting report on WWE Executive Producer Kevin Dunn. The website noted that on Thursday, Aug. 21, Dunn sold 30,000 shares of his Class A WWE Common Stock. With the sale, Dunn received a gain of $433,200, as WWE’s stock that day closed at 14.44.
While it would seem like Dunn sold a lot of his WWE stock, that is actually not the case. Dunn reportedly still has 242,406 shares of WWE stock remaining.
Following a monumental drop in the stock market in May of 2014, WWE has somewhat rebounded on the stock market. Over the past three months, the price of a share has gone up from 11.17 to 14.64. WWE prevented another massive drop in the stock market on July 31, when it released its second quarter earnings. While the earnings report would be perceived as poor, WWE combatted it by letting go of 55 employees. The cost cutting maneuvers helped prevent a huge drop in the stock market.
Yet, WWE’s stock is still far from its peak in 2014. In March of 2014, WWE had its price per share at 31.39. In time, the price began to dip back in the 20s, eventually being bombarded by the mentioned monumental drop.
Interesting stuff, which makes you ponder why Kevin Dunn sold so many shares.