Shares of World Wrestling Entertainment (WWE) plummeted (-43%) today! The stock is currently down $-8.67 and has been trading in a fifty two week range of $8.96-$31.98. Year to date the stock has underperformed the market. World Wrestling Entertainment dropping after failing to secure another TV network deal. After launching its WWE network subscription service it essentially cannibalized the company’s current business model. World Wrestling Entertainment’s new business model is similar to that of a Netflix (NFLX), with a library of wrestling matches and pay-per-view type matches. Investors are unhappy about the new business model and the company’s inability to generate new and consistent subscriber growth. If we look at (WWE) on the Ichimoku Cloud, the stock has been trading in a very bearish channel. The stock is currently trading below the cloud.
