wwe’s share price slid 3 just 24 hours after an earthshattering report of vince mcmahon’s investigation by the wwe board of directors after seeing a surge despite the news and due to many other factors yesterday wwe shares opened at 6619 before closing at 6487 adjusted yesterday’s share price closed at 6718 wwe had a hot start thursday morning with highs of 6773 that once again outperformed the indexes before later sliding down a level similar to dow jones as of this writing wwe’s stock is down 344 compared to 242 for dow jones and 325 for the sp 500 wwe’s share price might be the least of its worries as brandon thurston of wrestlenomics ht wrestling inc reported 21 million shares of wwe stock were sold hours ahead of the wsj report “21 million wwe shares changed hands yesterday about 15 million more than an average day all before the wsj story broke just after the market closed” wrote thurston “it may be worthwhile to read the paragraph from the code of conduct headed ‘prohibition against insider trading’” such a large volume of stocks being sold ahead of a potentially damning investigation suggests insider trading could be in play as details behind pro wrestling’s biggest story of the year continue to emerge the section in question from wwe’s own code of conduct reads as follows   “the term ‘insider trading’ refers to the practice of trading in securities while in possession of material nonpublic information a practice which is prohibited under federal law”   “any wwe personnel trading while in possession of material information which he or she has reason to believe is not publicly available is acting contrary to company policy and may be held liable for insider trading directly or indirectly ‘tipping’ this information to another person who trades is also a violation of this policy information will be deemed ‘material’ if it would be likely to influence a reasonable investor’s decision to buy sell or hold securities any information about the advances setbacks or overall business plan of wwe or its business partners should be considered material”   “‘nonpublic’ information includes any information that has not been made available to the public through a press release or a filing with the securities and exchange commission wwe personnel with information about wwe or its business partners should consider the information “nonpublic” until the second full trading day following the widespread disclosure of that information” wwe did not respond to a request for comment this article will be updated if and when it does it cannot be determined which shares were sold however the possibility of insider trading adds yet another wrinkle to a complex possibly cataclysmic story that some feel could result in a possible sale of wwe whispers of a potential wwe sale have been prevalent since wwe hired nick khan in 2020 “i’ve always thought nick khan’s role was to get the profit margin as big as possible to help facilitate an potential sale i think many people felt that was it” said dave meltzer of “wrestling observer radio” “ultimately a sale has to be approved by vince because he owns the voting shares i don’t know how vince would be ‘out’ out he could be out of power but he’s still got the voting share powerthere’s been talk there for six years of vince wanting to sell just getting the right price and nobody’s offered that right price” there is a short list of outcomes that would result in a vince mcmahon being removed from power b a potential sale of wwe or c all of the above if wwe is found to have participated in insider trading quid quo pro in regards to an inappropriate relationship and0r if an exemployee was in fact paid “hush money” from wwe funds vince mcmahon’s potential downfall wouldn’t be too far behind