Market Overview

WWE Puts 'Choke Hold' On Doubters; Rev. Emmanuel Lemelson Was Right All Along


Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.

World Wrestling Entertainment, Inc. (NYSE: WWE) shares are trading higher by $2.04 at $16.40 in Friday's session. It has added nearly $3.00 since closing at $13.23 last Friday.

On Thursday, the company beat Q4 estimates by $0.07 on better than expected sales of $140.5 million.

The company also announced an agreement with Rogers Communications for coverage of WWE Network, providing more Canadian fans access to premium WWE programming.

Related Link: Are WWE Investors Missing Something?

Shares are up over 30 percent since November 18, when Emmanuel Lemelson, CIO of Lemelson Capital Management, told Benzinga that the firm had bought more shares when WWE pulled back.

"The intrinsic value is far greater than what it is trading at today," Lemelson said at the time. "If you can buy between $8 and $11 there is a significant margin of safety," he added.

The stock is now trading in an area of limited major resistance until $18.58.

Posted-In: Emmanuel Lemelson WWETechnicals Movers & Shakers Intraday Update Movers Trading Ideas General


Related Articles (WWE)

View Comments and Join the Discussion!
Lightning Fast
Market News Service
$199 Free 14 Day Trial
Book A Demo
Learn How You Can Succeed In The Market With Benzinga Pro

Fastest Market News

Real-Time News Alerts

Customizable News Filters

Book A Demo

Tanger Factory Outlets Traded Lower After Earnings, Despite 2014's 23% Rent Bumps

Cyberark Wins From A 'Blow-Out' And Obama; Others Gaining Too