WWE Stock Spikes 8% Amid Buyout Speculation
WWE stock spiked on Thursday, up over 8% at one point, amid renewed speculation that the company could be bought out soon.
According to investment site SeekingAlpha.com:
– Shares of World Wrestling Entertainment move higher on heavy volume on renewed buyout speculation.
– The M&A buzz in the media sector kicked into a higher gear yesterday after 21st Century Fox made an offer for Time Warner.
– Though the streaming sub growth at WWE hasn’t dazzled, analysts think the initiative could still draw interest from a company on the distribution side of the business.