Investors Cheer Triple H's Royal Rumble, WWE Championship Victory
Shares of World Wrestling Entertainment, Inc. (NYSE: WWE) hulked up on Monday, hitting a day-high of $17.66 after opening at the $16.70 level.
The stock closed at $17.29, up 3.3 percent.
The company's annual Royal Rumble event took place on Sunday night. In a unique twist, the WWE Championship was defended in the event's eponymous match for the first time in its 28-year history. WWE's rising star, Roman Reigns, defended the title but was eliminated by the surprise entrant Triple H.
Triple H is the ring name of Paul Levesque, who was one of the hottest stars during the company's late 1990s-early 2000s heyday. He has been a part-time wrestler over the past decade, and hadn't participated in a match since April 2015.
Levesque is WWE's Executive Vice President (Talent/Live Events/Creative).
WWE stock is hot around this time of year, as the company's annual Road To Wrestlemania begins. Wrestlemania 32 will take place on April 3 at AT&T Stadium. The success of the event --- in which the company hopes to break an attendance record of 100,000 fans -- will certainly be on investors minds.
The growth of WWE Network, which is about to wrap up its second year of existence, will also be telling. The network has expanded to three countries since last year's Wrestlemania: Germany, Japan and India.
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