Wall Street slams WWE as its annual shares plummet
World Wrestling Entertainment’s (WWE) shares struggled this year and Wall Street might kick them out of the markets.
WWE must be capitalizing on its new TV deals with Fox and Comcast that financially benefit the company. However, the stock is 10% down this year and more than 30% below its 52-week high.
Fox’s first broadcast of SmackDown on Friday nights delivered good ratings earlier this month. But weeks since then, viewership plummeted which investors see as a major concern now.
“Ratings are a barometer of fan interest and they have been going in the wrong direction,” Brandon Ross, media analyst at LightShed Capital said.
WWE has also yet to announce its new TV deal in India since its current ties with Ten Sports ends this year.
Some analysts, however, remain positive. “WWE is on the brink of a period of unprecedented growth,” said Evercore ISI analyst John Belton.
WWE is expected to find a way out of the sluggish shares and become Wall Street’s world champion anew.