World Wrestling Entertainment Inc. shares slipped as much as 2.9 percent after comedian John Oliver criticized the company and Chairman and CEO Vincent McMahon’s treatment of wrestlers.
Wrestlers are dying at a faster rate than professional football players and the general population, Oliver told viewers, citing . He noted WWE’s policy of treating wrestlers as independent contractors and not providing health insurance.
Adding to WWE woes, Cannonball Research analyst Vasily Karasyov cut his investment rating to neutral from buy, writing that the company would have to trade above historic multiples or double international TV rights rates in order to surpass his 12-month price target of $88.
World Wrestling Entertainment Inc. shares were trading at $86.02 per share on Monday afternoon, down $0.76 (-0.88%).