WWE Attempting To Break Chokehold On Share Price

Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.World Wrestling Entertainment Entertainment, Inc. (NYSE: WWE) shares were trading higher by $0.16 (1.4 percent) at $13.77 in Thursday's session. It is getting a slight boost from a report that revealed that WWE reached more than 1.3 subscribers in more than 175 countries on its streaming WWE Network.The issue has been in a holding pattern since it was rocked on March 30 on the heels of subscriber numbers below what the Street wanted. On that day, it declined from its March 29 close ($16.52) down to $14.09 the following day.Since that day, it has been in well-defined trading range between its April 6 low ($13.01) and its March 31 high ($14.22). As of late, the issue has been making multiple highs just under the $14 level. In six of its last seven trading sessions (including today), it has peaked between $13.85 and $13.91. The last time WWE closed above $14.00 was on March 31, when it ended the session at $14.01.