Vince McMahon’s stock sell-off could say more about WWE’s future than the XFL’s

With rumors of an XFL return, or some kind of football league, coming from Vince McMahon’s new business entity Alpha Entertainment, LLC, the news that he sold close to $100 million worth of stock generated a lot of headlines.

His filing to the Securities and Exchange Commission on the sale of 3.34 million shares indicates that it was done to fund Alpha Entertainment, which WWE had previously clarifiedwas separate from the company for which McMahon is Chairman and CEO, and was established to “explore investment opportunities across the sports and entertainment landscapes, including professional football”.

News of Vince’s sell-off came out late Thursday, so there was extra attention on WWE’s stock price on Friday (Dec. 22). Wall Street didn’t appear to be thrilled, with shares dropping a little more than 7% to close at $29.55, the lowest it’s been in weeks.

https://www.cagesideseats.com/wwe/2017/12/23/16814080/wwe-sale-stock-drop-vince-mcmahon-100-million-shares-xfl-reports