Shares of wrestling promoter WWE(WWE_) got slammed last Spring when the company cut its dividend, but Mark Travis, portfolio manager for the Intrepid Small Cap Fund(ICMAX_), says the stock is ready to get up off the mat.
"You have a clean balance sheet and $170 million in cash," says Travis. "The perception is that WWE wrestling events are suffering due to a weakened consumer, and while there may be some truth to that, you also have the TV contracts which mitigate the ticket sale volatility."
source: thestreet.com
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