WWE stock hits new milestone

4 years ago by WrestleTalk

WWE stock hits new milestone

WWE’s stock price continues to soar. The group’s shares are now valued at a massive $90.10 each, giving WWE a market capitalization of $7.03 billion.

Although this is the highest the stock has even been valued it is expected to rise further still. Morgan Stanley projections expect the share price to top $100 in the near future thanks to a combination of the Saudi Arabia deal and the increase in television rights.

When WWE first became a publicly traded company in 1999, the share price started out at $24 per share. It levelled out at an average of between $10-$15 for several years.

The value spiked in 2014 with the launch of the WWE Network, hitting a record high of $30.81 in March of that year. The value plummeted three months later to $11 per share when the first numbers for the Network came in way lower than projected.

Since then, due to a combination of budget cuts, increased profitability from television rights, merchandise and an increase in Network subs, the price has steadily grown.

This year has seen a significant increase, with the current price over four times the $23.55 of this time last year. For now, it seems that WWE is in the healthiest financial position it has ever been in, with no indication that their meteoric rise will slow anytime soon.

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