WWE stock drops on Tuesday following CNBC segment

The Street is featuring an article about WWE stock dropping 4.84% on Tuesday after Nathaniel August (founder of hedge fund Mangrove Partners) made an appearance on CNBC. August believes nearly all of WWE’s future profitability relies on the success of the WWE Network and that WWE would “earn nothing at a corporate level” if the subscriber base remained at the figure it was last reported at (700,000). He added that the firm doesn’t believe WWE will double that subscriber base when new figures are revealed next week.

The Street: Why WWE (WWE) Stock Is Down Today