WWE News: WWE Stock jumps 5% after Hall of Fame member Donald Trump wins Presidency
Trump's win spells good news for WWE and its shareholders.
Share markets all over the world tanked when Donald Trump was elected the 45th President of the United States of America. However, the WWE was an exception to this trend as the election of the new President, saw the company’s stock jump by 5%.
The jump in WWE stock prices may be attributed to Trump’s win, because of the latter’s history with the company. Vince McMahon himself has been a vocal supporter of the Republican party and has been a big Republican donor in past campaigns.
His wife Linda also had political ambitions and lost twice while contesting for the post of a Connecticut Senator. However, Linda still plays a major role in the GOP.
Trump has been associated with the WWE for a long time now. It all started back in 1988 when WrestleMania IV was hosted at Trump Plaza. WWE returned to the same venue next year for WrestleMania V, which is the only time in WWE history that two Manias were held at the same location in consecutive years.
Trump returned to the WWE yet again, during WrestleMania 23 for the ‘Battle of the Billionaires’. Trump’s pick, Bobby Lashley, won the match against the then Intercontinental Champion Umaga, who was McMahon’s pick. Consequently, McMahon was made to shave his head as per the stipulation of the match.
This was followed by Stone Cold pulling a Stunner on none other than Donald Trump himself.
Trump is the only US President to be a victim of Stone Cold’s Stunner and was inducted into the celebrity wing of the WWE Hall of Fame in 2013.
Earlier this year, WWE shares took a hit, when its subscriber count had decreased considerably. The company recorded heavy losses when the share prices fell 17 percent, as a direct consequence of decreasing views and subscribers.
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