Update On WWE Stock Price Following WSJ's Latest Vince McMahon Piece

WWE's stock was clotheslined this morning following a Wall Street Journal report that Vince McMahon is allegedly planning to make a comeback at the company he ran for decades.

The Journal, sourcing its reporting from unnamed "people familiar with his comments," stated that McMahon believed his decision to step down in July was the result of "bad advice from people close to him." McMahon exited WWE's leadership role amid an investigation into several secret payments that he allegedly made to former female employees to cover up various affairs and scandals.

McMahon's departure from the company did not require him to give up his WWE shares – indeed, he maintains majority voting control in the company through his share ownership. Nonetheless, the WWE board of directors would need to approve any reappointment of McMahon to his previous roles as chairman and chief executive officer.

Last month, WWE co-CEO Nick Khan used the company's Q3 earnings call to announce the special committee of independent directors investigating the allegations against McMahon had been disbanded after concluding its probe. Khan did not announce the committee's findings, stating only that "management is working with the Board to implement the recommendations of the special committee related to the investigation"

The Journal noted that WWE stock has risen by 15% since McMahon's departure, but the publication of today's article about his alleged comeback desire immediately caused the stock to sink. WWE opened for trading on the New York Stock Exchange at 9:30 a.m. ET at $76.01, but by 2:00 pm. ET the stock was trading at $74.27, a 1.58% drop.

Over the past 52 weeks, WWE has been trading in a range from a $46.91 low to an $81.63 high.