Are you bullish on WWE?
Curry Baker, an analyst with Guggenheim Partners, says he is.
After The Hollywood Reporter stated that USA Networks was nearing the close of a renewal for RAW with World Wrestling Entertainment Inc. (WWE) and that the offer is triple the amount that USA currently pays WWE—the stock soared.
After reaching a high of 16%, the stock was inching toward $50 a share at nearly a 15% increase on Thursday, May 17.
Baker told TheStreet that he remains confident about WWE's renewals, both in the United States and internationally. WWE is the second most popular sport to watch in India.
When asked about the future of the stock, Baker said that he would characterize the gain "as a runway."
Shares of WWE were up nearly 16% at $50.33 during afternoon trading.