Hulk Hogan Controversy Costs WWE Shareholders 50 Million Dollars

Forbes ran an article this week describing how the Hulk Hogan racism controversy cost WWE shareholders $50 million.

The article notes how shares of WWE stock increased 14 percent after an outperform recommendation from Wells Fargo earlier this month, making WWE shareholders $160 million richer.

After the Hogan scandal broke this week, shares dropped nearly 4 percent on Friday to $16.60 per share, which cost shareholders approximately $50 million. WWE stock would go on to fall even more in after-hours trading on Friday to $16.00.

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