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WWE Shares Moonsault To Highest Level In Over A Year

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

World Wrestling Entertainment, Inc. (NYSE: WWE) shares were trading higher by $1.69 (8 percent) at $21.86 on Tuesday. The issue is continuing its march north after blowing away Wall Street estimates for EPS by $0.09 on July 30. In addition, the company reported strong subscriber numbers.

This is the highest the stock has traded since April 2014.

See Also: Another Summer Catalyst For WWE?

After digesting its huge gain on July 30, rallying from $16.48 to $19.36 for two days, WWE climbed into the $20 handle on Monday, ending the session at $20.17. In Tuesday's session, it opened at the low print for the day ($20.23) and reached $22.05 before pulling back under $22.

That marks the highest level for WWE since it cascaded from the $30 level back in April 2014. As long as WWE closes above $20.17, it will be the sixth consecutive day of gains.

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