Did WWE stock rise after Vince McMahon expressed his desire to return?

Vince McMahon's retirement in 2022 caused a lot of changes to his company, and his possible return this year has also caused WWE stocks to undergo major changes.

In July of last year, the wrestling world was shocked when Vince announced his retirement at the age of 77. This came after allegations of paying hush money to former female employees, one of them being former female WWE referee Rita Chatterton.

After his exit, his daughter Stephanie McMahon became the Chairwoman and co-CEO, alongside Nick Khan. Meanwhile, Triple H became Head of Creative and Content Chief Officer. However, it looks like a lot of backstage roles will now change.

Recently, it was reported that the 77-year-old is attempting a comeback, causing mixed reactions from fans. Still, the news of not just his return, but also potentially selling the Stamford-based promotion caused the WWE stock market to shift. According to The Wall Street Journal, the company's shares were up 12% in late trading Thursday, closing out their regular session about 2% higher. The company's stocks rose to $80, a sharp increase from its closing price of $72.04.

What did Vince McMahon include in his press release that caused WWE stocks to rise?

Vince McMahon's return to the Stamford-based promotion was highly speculated even right after his retirement. Still, a recent press release might have sealed the deal.

In the statement, the 77-year-old stated that he has taken important actions to capitalize on unique opportunities for the company and mentioned WWE's shareholders. In addition to the statement, he has appointed himself, along with two others, Michelle Wilson and George Barrios, to the board of directors.

"Vince McMahon, the founder and controlling shareholder of World Wrestling Entertainment Inc. ('WWE' or the 'Company') (NYSE: WWE), announced today that he has taken necessary actions to position the Company to capitalize on a unique opportunity to maximize long-term value for all WWE shareholders."

From the looks of it, McMahon's return may be a positive for WWE stocks, but allegedly not for the backstage environment of the company. Still, it looks like the news and more possible changes are still ongoing, and fans can only wait and see what happens next.

What do you think about Vince McMahon potentially coming back to WWE? Sound off in the comments below!