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WWF By Matt Cohen W orld Wrestling Federation Entertainment, (Ticker: WWFE) now a member of NASDAQ, went public on October 19, 1999, selling ten million shares at $17 each. The main purpose of the World Wresting Federation company is to produce cable television programming along with pay-per-view programming, and live wrestling events.Although WWFE has become a public company and has declared that they value the opinions of public share holders, the WWFE maintains many of the traits of a private company. The WWFE founder, Vince McMahon owns 97% of the voting stock, making him the decisive decision maker. Mr. McMahon is not only the chairman of the World Wrestling Federation, he is also one of the script writers for his actors who perform in WWFE events. The WWFE opened on the NASDAQ Exchange at $17 per share. It finished the week of November 15, 1999 at $21.50 per share. People expect the stock to fluctuate up and down for the next two months. The company should issue a status report within the upcoming months. This report should stabilize the stocks price and dictate the short term trends of the stock. I would hesitate to purchase stock in WWFE until it has established itself as a sound investment, however, once the WWFE does disclose their financial statements, I see its stock price rising along with its growing public interest. |
