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Post by The Ultimate Nullifier on Jul 25, 2015 21:53:04 GMT -6
www.lordsofpain.net/news/wwe/Hulk_Hogan_Scandal_Costs_WWE_Shareholders_Big_Money.htmlForbes has an article at this link ( www.forbes.com/fdc/welcome_mjx.shtml ) 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.
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