According to a new report by Alfred Konuwa of Forbes, the WWE is flourishing as a company and is only expected to get better. Shares of WWE stock recently rose to $40.18 this past Wednesday, the first time it has been above $40 since the company went public in 1999. As of Friday, April 27th, that number was up to $40.30. Additionally, it’s been added that a poll of CNNMoney analysts shows that 11 out of the 12 are expecting that mark to reach a high of $45 in their 12-month price forecasts.
When the company went public, shares opened at $30.50, but then bottomed out at $6.86 in October of 2002. Ultimately, those numbers came up and over the past ten years have been in a steady incremental increase. 2017 was one of the most profitable years for the company, bringing home $32 million after an $11.3 million tax charge. It’s believed that cutting out pyrotechnics, the cancellation of WWE Network shows and the release of talents contributed to this number. Right now, WWE is currently valued at an estimated $3 billion.
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