WWE Top Name Earns $300 Million

WWE stock has gone up recently on Wednesday, June 9 and the popular subreddit r/wallstreetbeats helped in process. Triple H ‘Blocked’ WWE NXT Departure

 


 

WWE stock goes up

The stock is currently up 11.92%, hitting a 52-week high of $70.41 at 9:40 a.m. ET on Wednesday morning.

The subreddit r/wallstreetbeats, which helped to boost up the stock for Gamestop and AMC earlier this year, took an interest in WWE stock, making the case for buying. The post made the following points:

– High SI. 8m shares shorted (~$460m worth). 18% of float.

– Low float. Also, 8m shs (20% of float) is permahedged, see below. SI is thus 22% of float.

– Solid fundamentals, if it matters. $1b rev and growing, even through COVID.

– Live events returning in July.

– Rumors of an acquisition.

– A beloved provider of memes.

– Shorts are just now starting to feel the heat. It’ll be hard to cover (low float, low volume)

– Options are cheap as fuck. IV is sitting at 35%.

Brandon Thurston of Wrestlenomics also noted that when the stock was up over 16%, the market value of WWE Chairman Vince McMahon’s ownership (nearly 29 million shares) which was almost $300 million more valuable than it was on Tuesday.

Barry Russell
Barry Russell
A dedicated pro wrestling follower for more than a decade

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