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WWE STOCK TRACK: Monday's overall picture after stock gets hammered on Network subscriber count

Mar 30, 2015 - 3:47:35 PM
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By James Caldwell, PWTorch assistant editor

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This Week's WWE Stock Track

- March 30 Close: WWE shares closed at $14.09 after a late rally pushed the stock price out of the low-$13 range.

Overall, WWE stock was down 14.7 percent from Friday's close. The range was a low of $13.75 following the Network subscriber count announcement and high of $17.44 at the beginning of the day following WrestleMania.

More than 7.0 million shares were bought and sold, the highest one-day trading volume since May 2014 when the stock price was slashed in-half after WWE announced a lower-than-expected 2014 business outlook.

- March 30 Afternoon: WWE's stock price was hammered after the company released the latest Network subscriber count following WrestleMania 31.

WWE presented the 1.3 million subscribers as a sign of short-term growth. WWE also presented an upward long-term trend to their eventual goal of 3.0-4.0 million Network subscribers. (Financial executive George Barrios said during Monday's Network conference call that WWE is not releasing a timeframe for reaching that goal.)

Investors reacted unfavorably to the report, as the stock price dropped 16 percent in one hour. Of the potential reasons for the sell-off, two reasons are (1) investors viewed the subscriber count as below-expectations for the second WrestleMania on the Network. And/or (2) investors decided to sell now and potentially buy again later believing WWE business has peaked in the short-term until they see more substantial Network information. (WWE is expected to report official First Quarter 2015 business one month from now.)

Overall, the stock price closed at $16.52 on Friday before WrestleMania. On Monday morning, shares reached as high as $17.44, likely on the news of WrestleMania 31 setting a live attendance revenue record.

Right before WWE released the Network count at 12:00 EST, the stock price was at $16.62 per share, around Friday's closing price.

During the noon hour, the stock price dropped $3 during a big sell-off period, bottoming out at $13.75.

As of Monday afternoon, shares recovered slightly to the lower $14 range, 15 percent below Friday's closing price.

Updated 2015 Scoresheet

2015 High - $17.91 (Mar. 3)
2015 Low - $9.82 (Jan. 20 - 52-week low)
52-Week Range - $9.82-$31.98
Current Market Value - $1.07 billion


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