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Yesterday, WWE shares dropped almost 4%, to $16.60, wiping out around about $50 million from shareholders. Prior to the news shares rose 14%, aking shareholders $160 million richer.
Hulk Hogan quit the company on Thursday evening when a transcript of racist remarks made several years ago leaked online.
For anybody still in any doubt as to why WWE is removing all mention of Hogan from their company right now - this is why... $50 million lost, it could have been much worse had they not acted so fast.