Market Overview

#FreeWrestlemania Not Pleasing WWE Investors And Early Subscribers

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Shares of World Wrestling Entertainment, Inc. (NYSE: WWE) were trading up about 3.2 percent at $18.29 earlier Friday. However, the stock tumbled and closed down about 0.57 percent at $17.59.

Mid-day, the company announced that the WrestleMania 32 will be free for new WWE Network subscribers. New subscribers will get a free-month trial, which will include this year's WrestleMania, to be held on April 3.

Related Link: Selling Nostalgia: WWE's Falling Stock, Ratings Drop Spark Shane McMahon's Return

Although the #FreeWrestleMania move is aimed at attracting new subscribers to WWE, investors did not seem particularly pleased with the news about the company giving away its products.

Also quite unhappy with the initiative were day one subscribers, who went on Twitter to complain about not getting anything for their loyalty.

Check out some angry tweets below.

 

Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.

Posted-In: #FreeWrestlemaniaNews Events Intraday Update Movers Tech

 

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