World Wrestling Entertainment (WWE) is facing the dire financial consequences of chronic mismanagement, having filed bankruptcy papers this morning in the wake of disbanding popular faction 3MB.
The Wall Street Journal is reporting that WWE’s stocks plummeted by nearly 300 percent immediately following the announcement that Jinder Mahal and Drew McIntyre had been released from the company.
The company’s retention of redheaded rocker Heath Slater did little to placate nervous shareholders, who apparently saw no value in the resurrection of a One-Man Band.
Financial experts believe WWE grossly underestimated the true value of 3MB, instead pinning its fortunes on the likes of less marketable “stars” such as John Cena, Evolution and the Wyatt Family.
Careful market analysis would have revealed that the vast majority of wrestling fans tuned into WWE programming for the sole purpose of watching 3MB. As a result, advertisers withdrew their deals with WWE en masse, catalysing the nosedive of WWE stock.
It is believed the company will be completely defunct by July, making it one of the most catastrophic business collapses in American history, just behind the XFL.
“WWE clearly does not understand its core audience,” remarked Wall Street analyst Steven Greenblum.
“The company’s greatest downfall was that it unwisely hindered Jinder.”