Major WWE Executive Sells Over A Million Dollars In Stock

Kevin Dunn, one of the bigwigs in WWE management allegedly sold more than a million worth of his shares. The sale comes at a peculiar time, with rumors the company might be getting sold.

Dunn Sells $1,500,180 Worth Of Shares

According to a new WWE filing with the SEC, major shareholder Kevin Dunn has sold 33,000 class A shares. The sale is quite unusual, as Dunn has been with the company since the eighties.

There are significant rumors that Vince is considering selling the WWE to companies such as ESPN, Fox, and Disney. If this rumor is accurate, it could explain why one of the company’s most prominent people is selling his shares. 

While Dunn sold a lot of shares, it is worth noting that he still holds 125,361 shares of company stock. Nevertheless, it could be a sign of things to come.

But what could be causing Dunn to sell his shares now. Well, we have a number of theories about that. 

Coronavirus Crisis To Blame?

The sale of the shares could have something to do with the coronavirus crisis. After all, many businesses are suffering as they were forced to close. 

If Kevin Dunn invests in businesses other than the WWE, he may be selling WWE shares to counter some of his losses. Of course, if Vince McMahon selling WWE is true, then he may be preparing for a dip in stock prices.

Vince McMahon selling WWE could not be the only problem, as the company may come under investigation soon. The company has had to deal with a number of scandals over the past couple of weeks. One of the scandals is a lawsuit by some of the company’s shareholders.

The WWE allegedly perpetrated a “fraudulent scheme” in relation to their stock prices. If the allegations are proven true, it could have serious consequences for the WWE’s stock prices.

Of course, Kevin Dunn may be cashing in on the current stock prices before they drop. Considering the situation the company finds itself in, it may be a smart move on his part.

Plenty Of Reasons For Kevin Dunn To Sell Stock

There could be many reasons for Kevin Dunn to sell his shares, the recent “fraudulent scheme” in relation to the Saudi Arabia contract being the most prominent. Of course, I am sure that there are plenty of other people with questions right now.

In the weeks and months to come, the WWE will have some explaining to do. From defending themselves against allegations of artificially inflating stock prices to the alleged connections with Donald Trump and that the WWE was considered an essential business, the company must account for it.

For now, they have avoided too much attention as people struggle to survive the crisis.