WWE’s stock price continues to fall after the company reported 667,000 people subscribed to the WWE Network as of Monday. The stock dropped over 20% on Monday and bounced back later in the day, closing down 15%.
On Tuesday, the stock price closed at $22.21, down 7% for the day.
The outlook for WWE’s stock remains mixed. Several Wall Street analysts have the stock rated as a “sell” – while The Vertical Group has a $33 price target. Vertical’s Kim Opiatowski told USA Today this week:
“The subscription numbers for the new WWE network are very solid and healthy. The stock may have gotten a little ahead of itself, and a lot of momentum names have been fading. And people may have also taken money off the table.”
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