-

WWE shares nosedive after being discussed on CNBC show

WWE shares went tumbling down after Nathaniel August, the founder of Mangrove Capital Partners went on CNBC and said in an on-air interview that WWE Network subscriber growth numbers are not strong enough.

August said that WWE will earn “nothing” on a corporate level and they will need 1.4 million subscribers to the WWE Network to justify it, something he believes it’s never going to happen. You can see his appearance here.

WWE shares were trading up to $14.68 during the day, 67 cents higher than what they opened earlier in the day. However once the interview made it on the air, stocks went down to $14.01 and then went even further down to $13.81, losing 4.30% of its value.

Colin Vassallo
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!

Stories you might also likeRELATED
Recommended to you

LATEST NEWS

New Shawn Michaels action figure from Mattel Creations’ Nostalgic Fan Favorites line

Mattel has announced a new Ultimate Edition action figure of Shawn Michaels as part of their Mattel Creations’ Nostalgic...

Dynamite rating for 06/19/2024

AEW had a bad night on Wednesday as Dynamite, with the first MJF match commercial free and an extended...

Jim Ross to receive Cauliflower Alley Club announcers’ award named after him

AEW broadcaster Jim Ross will be honored by the Cauliflower Alley Club as the first recipient of its brand...

Discover more from Wrestling-Online.com

Subscribe now to keep reading and get access to the full archive.

Continue reading