Hulk Hogan Scandal Costs WWE Shareholders Big Money

– Forbes has an article at this link about how the Hulk Hogan racist comments controversy has cost WWE $50 million.

Forbes notes how shares of WWE stock increased 14% after an outperform recommendation from Wells Fargo earlier this month, making WWE shareholders $160 million richer. However, after the Hogan scandal broke this week, shares dropped almost 4% on Friday to $16.60 per share, costing shareholders around $50 million. It was noted how the overall market and shares of MSG, which may be the closest public proxy to WWE, slipped just 1%.

WWE stock fell even more in after-hours trading on Friday to $16.00.

Vince Upset with Seth Rollins?, Major Update on Hogan vs. John Cena, Top WWE Star Gets Heat, 2016 Rumble Spoiler, Main Roster Plans for Finn Balor, Report on HHH and Cesaro, Must See New Stephanie and Lana and Bellas, Lots of New GIFs & Galleries, More