UPDATE x3: WWE Stock Taking a Hit Today Following Network Subscriber Announcement

UPDATE x3: The stock is rebounding, now only down $3.66 (13.06%) as of 3:15 PM ET.

UPDATE x2: As of 1:41 PM ET, the stock is down a total of $5.53 (19.74%), rebounding slightly from the last report.

UPDATED: As of noon ET, the WWE stock is down a total of $5.72 (20.41%).

ORIGINAL: Earlier today, WWE announced that they currently have 667,287 subscribers for the WWE Network after 42 days of operation. They also stated that the Network was well on its way to reaching its goal of 1 million subscribers by the end of 2014.

This announcement has not impressed Wall Street. So far for today (10:25 AM ET), WWE’s stock is down over 14% ($4.04) to $23.99.