Is WWE Stock a Buy Ahead of Wrestlemania?
This weekend, World Wrestling Entertainment (NYSE:WWE) will host its biggest event of the year: Wrestlemania 38. The two-day event is the "Super Bowl" for the professional wrestling company and presents as good of a time as any to consider investing in the industry leader.
Here are three reasons why WWE has the long-term potential to be a title winner for your portfolio.
While Wrestlemania is WWE's biggest live event in terms of its streaming audience and sponsorships, the company makes its most revenue from two annual events in Saudi Arabia for an estimated $50 million per event. Due to COVID, the Saudi Arabia events were limited to once per year in 2020 and 2021, meaning the company missed out on roughly $100 million in revenue. WWE expects to continue its regular schedule of two annual events in Saudi Arabia, despite a political backlash, until at least the end of its current contract with its government in 2027.
Source Fool.com
