WWE News: WWE stock continues to rise, outperforms Netflix
What's the story?
Netflix stock has already soared more than 110 percent so far this year, but it appears that WWE is giving the streaming giant a run for its money.
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WWE was trading at around $76 on Friday morning and now analysts expect the stock to continue to rise in the coming months to around 30 percent. So far this year, WWE has already soared to around 152 percent and it's expected to continue as WWE continues to push forward new avenues in their company.
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It was reported earlier this week that WWE's success in recent months had led to every WWE superstar receiving a bonus in their paycheques at the end of June and this could definitely be a sign of things to come for WWE.
The heart of the matter
CNBC recently reported that WWE's stocks are currently performing better than Netflix since the online movie streaming service only saw a 110 percent rise so far this year, whilst WWE's Network has soared to 152 percent.
Oppenheimer technician Ari Wald recently commented on the rise on CNBC's trading nation show and believes that this is a sign of things to come for WWE.
“This is a great example of momentum in markets. All of the academic research shows that stocks with high risk-adjusted returns over the previous year usually continue to be the leaders over the coming year, and we like momentum.”
Mark Tepper, CEO of Strategic Wealth Partners believes that WWE has concentrated on the right aspects in recent months and believes that WWE has the wrestling market on lockdown.
“They’ve been focusing on increasing original content, growing their subscriber base, [and] negotiating new TV deals which all really bode well for the stock. While the media and entertainment industry is really competitive, they’ve really got the wrestling niche obviously locked down. So I find it really hard to believe that any other wrestling entertainment company could enter this market and compete.”
What's next?
Mark Tepper has predicted that WWE's upcoming deals with Fox and Comcast could be huge for the company and even projected a 360 percent growth for WWE’s business.
What do you think the driving force behind this success has been? Have your say in the comments section below