4/4 WWE Stock Track – Wild reaction to Network subscriber count, stock falls four percent post-WM32, CNBC covers “good news/bad news”

WWE Stock Track 2016
Week 14 – April 4-8

– Monday, April 4: Closing Price of $16.56 per share, down 4.3 percent from Friday’s pre-WM32 close of $17.31 per share.

It was interesting day. The stock was up a few percent in the upper-$17 range following WrestleMania.

Just before WWE released the latest Network subscriber count, the stock was at $17.80. When the announcement was made, the stock suddenly jumped to a high of $18.86, nearly topping the 2016 high-point. However, within minutes, the stock sharply fell back to $17.28.

After the Network press release was digested and the conference call concluded, the stock fell to $16.76 per share.

The stock continued to fall, bottoming out at $15.90 per share. So, from $18.86 to $15.90 over the course of just a few hours with a wild reaction to the Network numbers.

WWE eventually crept back up to the closing price of $16.56 per share to conclude the day.

CNBC picked up on WWE’s post-Mania figures, noting that it was “good news/bad news” with the highest Network count to-date, but concerns about whether WWE can retain their Mania trial subscribers and convert them to paid subscribers.

2016 WWE STOCK SCORESHEET

• 2016 Open: $17.44 per share
• Latest Close: $16.56 per share (4/4)
• Current 52-Week Range: $13.01 – 23.63
• 2016 High Points: $18.93 (3/17), $18.86 (4/4), $18.42 (1/26)
• 2016 Low Point: $14.20 (2/11); $15.66 (2/10)

• 2016 Initial Market Value: $1.34 billion
• Current Market Value: $1.31 billion (4/1)
• 2016 Market Value Low Point: $1.11 billion (Week of 2/8)
• 2016 Market Value High Point: $1.39 billion (Week of 3/28)