NEW YORK (TheStreet) -- World Wrestling Entertainment (WWE) was falling 14.3% to $24.01 Monday the day after its WrestleMania 30 event, and despite claims the WWE Network is on track to reach 1 million subscribers by the end of 2014.
In a press release WWE announced the WWE Network reached 667,287 subscribers in 42 days, and is on its way towards meeting the company's goal of 1 million subscribers by the end of the 2014. The network is currently available in the U.S., and will come to Canada, the U.K., New Zealand, Singapore, Hong Kong, and the Nordics in late 2014 or early 2015.
At WrestleMania 30 former UFC Champion Brock Lesnar beat The Undertaker's undefeated streak at WrestleMania, which shocked fans, but may have been a good move for the company financially.
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TheStreet Ratings team rates WORLD WRESTLING ENTMT INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate WORLD WRESTLING ENTMT INC (WWE) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity."