fbpx
QQQ
-1.98
328.37
-0.61%
DIA
-0.62
344.85
-0.18%
SPY
-1.01
417.50
-0.24%
TLT
-0.29
137.37
-0.21%
GLD
+ 2.03
170.66
+ 1.18%

Did A Former World Champion Predict WWE's Recent Pop?

by
February 18, 2015 5:02 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More

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.

Related Link: WWE Rises On Earnings Beat, But Are Investors Missing Something?

The compan'ys 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 2014 and nearly $10 overnight in May. "There's always a drop after Wrestlemania. Buy in November — by April it'll be through the roof.

"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."

Shares of WWE closed Wednesday at $15.98, down 7.9 percent.


Related Articles

Analyst: WWE Network Subscriber Data Bullish Ahead Of WrestleMania

4 Bullish Catalysts For WWE's Stock Following WrestleMania

Citi Recommends WWE's Stock On Network Subscriber Projections

Pacific Crest Continues To Recommend WWE, Despite Guidance Miss