The wrestling company’s stock price was pummeled today after two market watchers — including CNBC’s Jim Cramer — urged investors to bail out, and fans had mixed reactions to Sunday’s Night Of Champions pay-per-view event. Cramer said on TheStreet,com, in response to a Twitter user’s question, that WWE has “been a sell” since it launched a nearly $10 a month online channel, WWE Network, that includes programming also offered on pay-per-view for about $60. “I don’t want to be there,” Cramer says. “It’s had a bit of a run. Take profits.”
The comment followed an article posted Saturday on a popular investor site, SeekingAlpha.com, that said the company’s subscriber goals for the end of this year “are largely unrealistic.” WWE Network had 700,000 subscribers at the end of June, half of the 1.4M that the company said in May it needs to offset lost pay-per-view TV sales. Even though shares are down 55.6% over the last six months, “I still won’t be a shareholder again anytime soon,” investor Michael Carter writes.
On top of all that, fans had mixed reactions to last night’s Night Of Champions: In the main heavyweight event, John Cena won the match with champion Brock Lesnar — but Lesnar retained the title because another wrestler interfered. The mix up “led to a deflating ending,” Bleacher Report columnist Alfred Konuwa said although some other commentators say it will add drama to their next match.