WWE stocks took one hell of a beating on Wall Street today after they announced the WWE Network subscribers count, obviously falling behind Wall Street’s expectations.
Stocks opened the day at $27 and went down to $21.73 before going back up to $23.90 for a drop of 14.7%. Stocks continued to slide in after hours trading, losing an additional 1.21% to finish off at $23.61.
The post-WrestleMania sell off certainly doesn’t bode well for the company as it shows that investors have no high expectations that WWE will eventually break even or make profit off the Network as previously thought.
WWE has said that it will need 1 million subscribers to break even on the Network and hoped to reach that number by the end of 2014.