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TKO, New Parent Company of WWE and UFC, Shares Climb 2.6% in Stock Market Debut

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12.09.2023 - 20:09

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variety.com

variety.com:

Todd Spangler NY Digital Editor Investors cheered as TKO Group Holdings, the new parent company of UFC and WWE, clambered into the Wall Street ring.

Shares of TKO, which began trading Tuesday on the New York Stock Exchange, closed up 2.6% on the day, to $103.22 per share after opening at $102.

TKO Group has a market capitalization of $8.57 billion, per data from CNBC. Meanwhile, Endeavor’s stock rose 1.1%, to $22.16/share, as investors reacted to the company’s move to carve UFC off into TKO.

Endeavor properties include WME, IMG and the Professional Bull Riders (PBR), among other media assets. The gains came amid declines for major market indexes including the S&P 500 (-0.57%) and Nasdaq Composite (-1.04%).

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