WWE Stock Takes a Cheap Shot After Spike in TV Subscriptions
Yes, you read the headline right. WWE’s stock plunged last week following record numbers of viewers tuning into WrestleMania 31, the highest grossing live event in WWE’s history. Why the drop? According to Investors.com, despite the spike in viewing and a 77% conversion rate from free viewers to subscribers in February, the year-old WWE Network says the spike may be temporary, which caused stock prices to plummet 15%. Since last year’s WrestleMania, WWE has had a…
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