WWE shares fell further today, dropping 0.65% to $27.35. It is down nearly 15% from its high of $31.98 set two weeks ago.
I noted yesterday that the stock took a big hit after the Forbes article came out about the WWE Network. The Forbes story noted that while the stock price has tripled in the past six months, revenues "have barely budged over the last few years," and profits have been stagnant. It also noted that Intrepid Capital Management sold their 10% stake in the company this past January. Intrepid portfolio manager Jayme Wiggins stated that while the WWE Network "is a slam dunk for a die-hard fan," he doesn't believe that they will be able to draw 1 million subscribers, and that he believes their core is around 700,000.
Forbes has a story today titled, "WWE Shares Down 15% -- Was It Something We Said?" They mentioned our article from yesterday, and stated that their article probably might have "just added to concerns" about the recent surge of the stock. Daniel Moore with CJS Securities called the sell off "a perfectly reasonable pullback" and set a $26 price target for the stock.
As noted, the next couple months will be important for investors, as WWE will reveal their new television rights deal. They will also announce the number of subscriptions for the Network on April 7th. Moore said that if WWE can hit 3 million subscribers, then it's a $40 stoc
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(Full Rey SKY chat: http://www1.skysports.com/other-sports/news/14204/9233626/rey-mysterio-says-tyson-kidd-can-become-a-big-name-when-he-unleashes-his-potential)Tyson Kidd:
"He hasn't really been given the opportunity but when he gets it he will blow people's minds. He will wow Superstars - including even myself - and fans because top to bottom and all around he is a complete athlete with a ton of potential."
"I am always on the lookout for new gear. If I walk into a Louis Vuitton store and they have a belt that I don't have, I want it straightaway. I am always updating and coming up with something fresh, whether it's a colour, a trend or a design, as my uncle always taught me to be unique and different. He told me not to be plain and dull like everyone else, and that you have to spice things up and catch people's attention with more than just your in-ring work. My uncle inspired me and it was because of him that I become a wrestler, but besides him, the one Superstar that really caught my attention growing up as a kid was 'Macho Man' Randy Savage."
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I quite like Tyson Kidd from what I have seen of him but he is just another talent left and lost in the shuffle. (I think he has recovered from his injury)