While WWE stock had been well over $91 per share, the past two weeks have shown the price going in the wrong direction. As of right now, the price is sitting at $82.68 and went down over four dollars today. The loss comes at a somewhat surprising time as WWE hasn’t announced any major business changes nor have they had particularly bad publicity. Although, it’s worth noting that the market overall seems to be in a slightly down period.
If you do the math, the company has lost nearly $1.25 billion in market capitalization. While that is never good news, the $82 dollars that the stock currently sits at is still far higher than where it stood at the beginning of the year. It could fall another $40, and WWE would still be looking at a huge gain in 2018. It’s current 52-week low sits at $21.22, so this is still a gigantic boost for the company year over year.
It’s also worth mentioning that wrestling financial analyst Chris Harrington said that around $60 would be a realistic stock price long-term for WWE:
I can't speak to the DCF model, but I think unless the UK & India deals really wow, WWE stock will find a new normal – $60 seems far more realistic than the current state.https://t.co/cktnepoS9T
— Chris Harrington (@mookieghana) October 9, 2018
It looks like that is exactly what is happening.
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