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Investors bodyslam WWE in early trading

Investors punished WWE big time today as stocks fell almost 50% as soon as the trading day started on Wall Street, losing over $9 from their price. At time of this writing, trading was at $10.73.

Analysts have also voiced concerns that the company’s return to profitability may happen later than expected and disappointing results of the WWE Network so far has led to a massive sell from investors.

Benchmark has downgraded the stock to hold from buy and said they estimate that NBC Universal negotiated a 50% increase on WWE’s domestic TV rights fees. “The company’s valuation could take a heavy beating this morning, as the new domestic TV deal with NBCU likely disappointed investors over limited visibility / believability on the ultimate success of the Network,” Benchmark said in a note.

Colin Vassallohttps://www.wrestling-online.com
Colin Vassallo has been editor of Wrestling-Online since 1996. He is born and raised in Malta, follows professional wrestling and MMA, loves to travel, and is a big Apple fan!

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