This week’s Momentum Trader Alert recommendation is a media stock with an “entertaining” profile.
Founded in 1980 and headquartered in Stamford, Connecticut, World Wrestling Federation Entertainment Inc. (WWE) is an integrated media and entertainment company principally engaged in the development, production and marketing of television programming, pay-per-view programming and live events. It also licenses and sells branded consumer products featuring the World Wrestling Federation and Raw brands.
J.P. Morgan recently initiated coverage on WWE with an “overweight” rating and $37 price target. That’s over 20% upside from current levels.
World Wrestling Federation Entertainment Inc. (WWE) vs. the S&P 500 over the past 3 months
Momentum Trader Analysis
Buy World Wrestling Federation Entertainment Inc. (WWE) at market today and place your stop at $27.00.
If you want to play the options, I recommend the WWE April $30 calls (WWE180420C00030000), which last traded at $2.30 and expire on April 20.
You were stopped out of Lam Research Corp. (LRCX) on Dec. 4 for a loss.
Nicholas A. Vardy