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 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!


Early betting odds for the WrestleMania 37 top four matches

A total of 14 matches are part of the two-night WrestleMania pay-per-view this weekend and we will bring you...

Andre memorial battle royal and SD Team Team titles match tonight on Smackdown on FOX

Tonight on FOX, there will be a special WrestleMania edition of Smackdown as two matches which usually are on...

More WrestleMania 37 tickets sold

WWE managed to move a few more hundreds of tickets for this weekend's WrestleMania with just under 1,300 remain...

Stories you might also likeRELATED
Recommended to you