WWE shares lose additional 7% of value during trading day today

 
 

WWE stocks continued its downward spiral on Wall Street, losing another 7.09% of its value, closing the day at $12.84.

Since yesterday, shares lost a total of 11.39% of the value, with yesterday closing at $13.81, before losing an additional 98 cents today.

The sell-off has been due to an appearance by Mangrove Capital Partners Nathaniel August on CNBC yesterday who said that WWE Network subscriber growth numbers are not good and said he believes that the WWE Network will never break even, let alone make profit.

During his appearance a real-time ticker was shown on screen with WWE going from green to red in a matter of minutes.