Did A Former World Champion Predict WWE's Recent Pop?
World Wrestling Entertainment, Inc. (NYSE: WWE) has been on a tear recently, rising more than 50 percent since the end of January. The company beat analyst Q4 estimates last week, with revenue up 19 percent to $140.5 million and a negative EPS of $0.01. Live event revenue increased to $26.9 million, showing that its events are still in high demand.
The company's annual Wrestlemania season is now in full swing. Did a former, three-time world heavyweight champion see this rise coming?
In an interview with Benzinga in May of 2014, wrestler-turner-entrepreneur Diamond Dallas Page gave his insight on the struggles of his former company.
"They're gonna bounce back stronger than ever," he said. The company's stock fell about $20 after March and nearly $10 overnight in May. "There's always a drop after Wrestlemania. Buy in November -- by April it'll be through the roof."
Since November 3, shares of WWE are up more than 29 percent.
"When World Wrestling Entertainment Network goes worldwide, it's gonna be insane," he added. "It's gonna give people like me a whole ‘nother life."
WWE Network has recently expanded to Canada and several overseas markets.
Shares of WWE closed Wednesday at $15.98, down 7.9 percent.
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