WWE stock surges at week’s end

Sep 2, 2012 - by Steve Gerweck

WWE stock enjoyed a surge after analyst Richard Ingrassia of Roth
Capital Partners lifted his rating from Neutral to Buy and price target
saying there appears to be increasing fan interest. Ingrassia said that
pay-per-view buy rates for non-Wrestlemania events increased 37 percent in
the second quarter, the first meaningful improvement in the figure in four
years. He also cited the move to three hours on RAW and the new TV show
for ION that will increase WWE’s exposure to television viewers. He
credited WWE’s use of social media for marketing as helping to drive
increased interest in all of its revenue categories as well as the change
in direction for WWE Studios, with the company now moving away from
self-produced films. Stocks closed the week on Friday at 8.88, 4.10% over
Thursday’s closing which also had a significant increase over Wednesday.

(thanks to Colin Vassallo)

(Visited 4 times, 1 visits today)

Leave a Reply