UPDATE x5: WWE Stock Down Over 45 Percent From Yesterday

UPDATE x5: WWE stock closed today at $11.33, down $8.66 (43.45%). The stock is now back to the levels it was at around mid-October of last year. The stock surged over the last few months on anticipation of WWE Network subscriber numbers and a big new TV deal, and now that those two did not deliver the numbers Wall Street expected, the stock has tumbled back down to what it was well before anticipation/speculation over those two things began. It should be noted that WWE still has a bit of room before it revisits its 52-week low, which was $8.96.

The TV deal can’t change now and PPV revenue will likely continue to decrease every quarter, so WWE will be under even more pressure going forward to pump up revenue from WWE Network and increase the subscriber numbers.

WWE will hold a conference call on Monday to address the company’s outlook. Vince McMahon, who lost roughly $340 million today due to the stock drop, will take part in that call.

UPDATE x4: As of 1:52PM ET, the WWE stock is trading at $11.28. This is down $8.65 from yesterday, representing a 43.4% drop.

UPDATE x3: As of 12:59 PM ET, the WWE stock is trading at $11.32. This is down $8.61 from yesterday, representing a 43.2% drop.

UPDATE x2: As of 11:50 AM ET, the WWE stock is trading at $11.36. That is down $8.57, and 42.9% overall.

UPDATE: As of 10:50 AM ET, the WWE stock has rebounded a little bit. The stock is at is at $11.54, which is down a total of $8.40 (42.14%).

ORIGINAL: WWE stock closed yesterday at $19.93 and when the announcement was made about the new TV deal after the market closed, the stock dropped around $4 almost immediately. As of 9:50 AM ET, the stock is sitting at $10.75, which is down 46.01%. The company got around a 25% increase in TV rights fees, which on the surface sounds good, but the company continually stated that they were aiming to at least double the rights fees.

Following the launch of the Network and various reports of the TV deal and “a rumored sale of the company” the stock hit $30.