WWE Stock Is Smacked Down After NBC Deal

WWE stock down 42% as of noon Friday


World Wrestling Entertainment (WWE) stock hit the mat after details of its deal with NBC were revealed.

Wwwe-stock-nbcWE’s new deal with NBC will last for multiple years and will have its Monday Night Raw continuing to air on USA Network. The deal also has the company’s Friday Night Smackdown airing on NBC’s SyFy Network. The wrestling entertainment company is expecting to pull in $200 million from its NBC deal, reports Forbes.

TheStreet’s rating team has listed WWE stock as a hold. The team says that it’s a C rank stock and that there is little evidence that it will show much movement compared to other stocks.

Analyst Mike Hickey told MarketWatch that he has downgraded WWE stock from a buy to a hold as well. He says that “the new domestic TV deal with NBCu likely disappointed investors over limited visibility / believability on the ultimate success of the Network.”

WWE shares had plummeted 42% as of noon Friday.

More Stocks to Watch

Article printed from InvestorPlace Media, http://investorplace.com/2014/05/wwe-stock-nbc/.

©2016 InvestorPlace Media, LLC

Comments are currently unavailable. Please check back soon.