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WWE had its best trading day ever as Vince McMahon plans to return and sell the company

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Former World Wrestling Entertainment Inc. Chief Executive Vince McMahon, who retired last year following a sexual-misconduct scandal that ended his decades-long grip on the industry, is getting off the mat and plans to return and sell the company.

His announcement late Thursday sent WWE shares up 17% Friday in their best trading day ever.

McMahon sent two letters in late December in which he expressed the urgency of his return, according to the press release. “Today, we announce that the founder of WWE, Vince McMahon, will be returning to the Board,” said Chair and co-CEO Stephanie McMahon, co-CEO Nick Khan and Chief Content Officer Paul Levesque in a statement Friday. “We also welcome back Michelle Wilson and George Barrios to our Board of Directors. Together, we look forward to exploring all strategic alternatives to maximize shareholder value.

 

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